Empire State Building Office Space, Business Rental Guide for 2022

Empire State Building, Office Space for Business Rental Guide for 2022

Empire State Building office space is a fantastic choice for New York City businesses requiring these key features: 

Photo courtesy of Costar, the world leader in commercial real estate information,

•  Strong corporate credibility and prestige by locating at one of the world’s most famous buildings

• Modernized best-in-class business environment, Tenant amenities and technology

• Energy Star Certified and newly install MERV-13 air filtration

• Excellent value compared to alternative Class A buildings

• Large inventory of pre-built move in ready office suites

• Prestigious Tenant roster with well-known Fortune 500 companies including LinkedIn, Global Brands Group, Shutterstock and the FDIC.

• Professional ownership and management

• High density of nearby restaurants, hotels and services

 

 

 

 

 

 

 

 

The Empire State Building has a fascinating history. Click THE REAL DEAL magazine logo below for a video that begins with construction and follows the many changes in fortunes and ownership throughout the years. The Empire State Building is now the “anchor” asset for Empire State Realty Trust (ESRT), a publically traded company on the New York Stock Exchange. 

 

 

LOCATION

The Empire State Building is located at 350 Fifth Avenue at the south west corner of 34th Street. This location is equidistant from both Penn Station and Grand Central Terminal. The #6 train is found on Park Avenue and 33rd Street and the N, R, Q, W, B, D and F at 34th Street and Broadway. Both Fifth Avenue and 34th Street have bus service. 

 

 

 

 

 

 

Empire State Building architecture & Office Design 

Soaring 1,454 feet over midtown Manhattan, the Empire State Building is a center core office building which means that the elevators, stairs and mechanical systems are in the middle of each floor. As a result there are windows on four sides providing excellent light and views in both open collaborative work environments and more traditional  layouts with perimeter offices. 

 

 

The Empire State Building offers intelligently designed fully constructed office suites that are ready for immediate occupancy. All suites feature interior finishes that exceed those found in most other Class A buildings. Included are high ceilings (finished or open), upgraded lighting fixtures, wood and glass fronted offices, and contemporary pantries outfitted with Energy Star- rated stainless steel appliances. 

 

 

 

 There is a large inventory of offices available for lease ranging from 2,800 rentable square feet (RSF) up to full tower floors of 26,000 RSF. A small sample of office suites is shown below. (Note: Furniture is not included.)

Pre-built Office. 3,112 RSF

 

 

 

 

 

 

 

 

 

Pre-built Office. 7,486 RSF

 

 

 

 

 

 

 

 

Pre-built Office. 8,316 RSF.

 

 

 

 

 

 

 

 

 

 

 

 

Pre-built Private Floor. 26,620 RSF.

 

 

 

 

 

 

 

 

Empire State Building Direct Leases

In 2021 the asking rents range from $65.00 per rentable square foot (PSF) on the lower floors up to $75.00 PSF on tower floors.  A quick reference table is below. Note: After negotiation your contract rent will be lower.

 

 

 

 

 

Additional office overhead costs include electricity, annual rent increases and annual real estate tax increases.

 

 

 Sublease Office Rental Pricing

A Sublease can offer a discounted rent for pre-built office space, and frequently furniture, fixtures and office equipment is included. Here is a link to our blog Sublease Rewards and Sublease Risks.

The pandemic has resulted in a record quantity of Sublease listings at the Empire State Building. As of April 2022 there was 380,000 RSF of Sublease office space for rent ranging in size from small offices to contiguous floors. A sample is shown below. Contact Cogent Realty Advisors for current information: (212) 509-4049.

Pre-built Turn-key Suite. 11,553 RSF. Asking $45.

 

 

 

 

 

 

 

 

Your Corporate HQ at the Empire State Building

• Class A office Art Deco style office building constructed in 1931. In 2010 $550 million was spent on infrastructure renovations and energy efficiency. 

• 2,800,118 SF total building area. 12,905 – 100,512 RSF floors. 102 stories tall and rising 1,454 feet.

• 24- hour, 7- day access. A total of four dedicated Tenant-only entrances on 33rd and 34th Street. Uniformed lobby concierge, uniformed security and turn-style access cards for Tenants.

• Visitor reception desk, card access controlled web-based visitor processing system. 

• 73 passenger and six freight elevators

• Central HVAC provided Monday to Friday, 8:00 am- 6:00 pm. Overtime and supplemental AC available.

• Fully sprinklered building, emergency lighting and power.

 

 

• Telecom providers include AT&T, Broadview Networks, Cogent Communications, Covad, Earthlink Business, Level(3) Communications, MegaPath, Rainbow Broadband, Time Warner Cable, Time Warner Cable Business Class, Verizon, Verizon FiOS, XO Communications.

• Six nearby parking garages. Bicycle area.

• Owned and managed by ESRT, a publicly traded company.

• New York, NY 10118

 

 

 

 

 

 

The “Urban Campus” at The Empire State Building

The Empire State Building office spaces benefit from an “Urban Campus” designed for today’s work-life style.

 

Fitness Center:  15,000 square feet for Tenant-only.

 

 

 

 

 

 

 

 

Conference Center offering spectacular views and catering for Tenants only.

 

 

 

 

 

7 Dining Options at the Empire State Building

Executive Dining at the STATE Grill and Bar (called a “winner” by ZAGAT), for Tenants only.

 

 

 

 

 

 

 

 

AXON AMENITY CENTER coming in 2023 .  It will feature a state of the art basketball court with pull-out bleachers that accommodate large town halls, a lounge, a bar, and the “ESRTEE Virtual Golf” golf simulator.

 

 

 

 

About Cogent Realty Advisors

Cogent Realty Advisors  is an independent and licensed no fee Realtor with 20 years of experience representing businesses that lease NYC office space. We offer leasing solutions for office Tenants seeking stability and value in uncertain times. For information phone Mitchell Waldman at (212) 509-4049.

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