LinkedIn Leases 31,196 Square Feet at Empire State Building
LinkedIn inked a full-floor deal for 31,196 square feet at the Empire State Building, bringing its total footprint there to 109,719 square feet.
Sacha Zarba led a team from CBRE representing the tenant. William Cohen and Ryan Kass of Newmark Grubb Knight Frank represented the landlord, Malkin Properties. The social networking site became a direct tenant in the Midtown landmark in 2011, with 31,742 square feet on the 25th floor. It has since expanded to the 23rd, 24th and 39th floors.
The Empire State Building is now fully leased from the 25th floor down to the base, reports The New York Post. Five years ago, 40 percent of the suites in that portion of the tower were vacant. The Post writes that asking rents on the upper floors are $55 per square foot and that a block from floor 55 through 58 will soon be available.
LinkedIn went public in May 2011.