Empire State Realty Trust Signs 38,000 Sq. Ft. Lease at 250 West 57th Street

16 Mar, 2016, 13:58 ET from Empire State Realty Trust, Inc.

NEW YORK, March 16, 2016 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) has leased the entire 10th floor and partial 9th floor, 37,680 sq. ft., at 250 West 57th Street to GuildNet, the insurance affiliate of Lighthouse Guild International, Inc. 

ESRT's 250 West 57th Street is undergoing extensive building renovations this year, including a new Gensler designed lobby, new building entrance, modernized elevator system and new elevator cabs, new retail storefronts and new cooling tower. The property, which offers in-building access to five subway lines and the soon-to-open TurnStyle, is part of the transforming neighborhood of Billionaires' Row.

"We have executed two recent full-floor transactions at 250 West 57th Street: COOKFOX Architects and now GuildNet," said Thomas P. Durels, Executive Vice President and Director of Leasing and Operations for ESRT. "We are creating five efficient full-floor opportunities with views from Times Square to Central Park by consolidating over 60 suites."

Brian Gell and Laurence Briody, Jr. of CBRE represented GuildNet in the lease negotiations.  Landlord representation was provided by Keith Cody of ESRT, along with Harry Blair and Sean Kearns of Cushman and Wakefield. 

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 10.1 million rentable square feet, as of September 30, 2015, consisting of 9.4 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.

Forward-Looking Statements

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, 2015, 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, 2015, 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).

 

SOURCE Empire State Realty Trust, Inc.