The lease with COOKFOX occurs on the eve of ESRT’s announcement that the 26-story, 527,627-square-foot office building will undergo renovations that include a new lobby, new elevator cabs and new retail storefronts. Work is scheduled to begin in early 2016.
“We’re delighted to welcome COOKFOX as a full-floor tenant,” said Thomas P. Durels, Executive Vice President, Director of Leasing & Operations, for ESRT.
Mr. Durels noted, “Our new lobby and efficient floor plates with an abundance of natural light will appeal to larger users. We are consolidating five full floors that range from 12,000 to 27,000 square feet and will be made available for the first time.”
The property is located along Billionaire’s Row, with easy access to public transportation, and cultural icons such as Central Park, Columbus Circle and Carnegie Hall.
COOKFOX’s new 20,000-square-foot headquarters will occupy the entire 17th floor.
“We are grateful to have CBRE and ESRT as partners to secure and design a new studio that will explore the next generation of a high-performance, healthy workplace,” added Richard A. Cook, Partner of COOKFOX Architects.
COOKFOX is known for its LEED Platinum projects in New York City, including the Bank of America Tower at One Bryant Park (the world’s first LEED Platinum commercial skyscraper) and the build-out for Skanska Construction’s North American headquarters at the Empire State Building (another ESRT property).
Mary Ann Tighe, Gerry Miovski, Brendan Herlihy, and Arkady Smolyansky of CBRE represented COOKFOX in the lease negotiations. ESRT was represented in-house by Keith A. Cody, along with Harry Blair, Sean Kearns and James Schunk of Cushman & Wakefield.
“In a move that combines rental cost savings, as well as spectacular space design that matches their own high standards, COOKFOX is moving from Ladies Mile to Billionaires Row,” said Ms. Tighe, CEO of the New York Tri-State Region, CBRE. “Their new home will not only have more space and light, but also outdoor terraces on the east and west of the building that will accommodate COOKFOX’s commitment to the environment as evidenced by their extensive plantings and beehive to produce their own honey.”
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world’s most famous building. Headquartered in New York, New York, the Company’s office and retail portfolio covers 10.0 million rentable square feet, as of June 30, 2015, consisting of 9.3 million rentable square feet in 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut and two in Westchester County, New York; and approximately 720,000 rentable square feet in the retail portfolio.
*Please note all lease square footages are approximate.
This press release includes “forward looking statements.” Forward-looking statements may be identified by the use of words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates,” “contemplates,” “aims,” “continues,” “would” or “anticipates” or the negative of these words and phrases or similar words or phrases. The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: the factors included in (i) the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, including those set forth under the headings “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Business,” and “Properties” and (ii) in future periodic reports filed by the Company under the Securities and Exchange Act of 1934, as amended. While forward-looking statements reflect the Company’s good faith beliefs, they are not guarantees of future performance. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. For a further discussion of these and other factors that could impact the Company’s future results, performance or transactions, see the section entitled “Risk Factors” in the Annual Report on Form 10-K for the year ended December 31, 2014, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Prospective investors should not place undue reliance on any forward-looking statements, which are based only on information currently available to the Company (or to third parties making the forward-looking statements).