When you’re a huge, publicly-traded company with more than eight million square feet of offices in a struggling market, it helps to have a world-famous Observatory on top of your most famous buildi…
When you’re a huge, publicly-traded company with more than eight million square feet of offices in a struggling market, it helps to have a world-famous Observatory on top of your most famous building.
But its most intriguing detail might be that 3Q Empire State Building Observatory revenue was up $37.6 million, or 13.6% over the second quarter and 14% over 3Q in 2022. Meanwhile, LinkedIn added more than 25,000 square feet to its space in the tower last month, bringing its total to over 526,000 square feet.The landmark is 90.2% leased, according to ESRT CEO Anthony Malkin, in a market where 20% vacancy is the norm.
It’s an impressive record for a building whose future was supposedly “in doubt” according to a seriously misinformed New York Times story in 2021.Stone Peak Capital is said by a source to have a lease out for 75,000 square feet at SL Green’s 245 Park Avenue. SL Green leasing director Steven Durels had “no comment at this time.”
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