With Midtown South pricing out tenants in search of smaller blocks of space, the Empire State Realty Trust has designed prebuilt office space on the 16th floor of 501 Seventh Avenue to harness the demand spilling over to other parts of the market.
Considering two types of prebuilds—office and creative—ESRT opted for creative, targeting media, tech and advertising firms. “We don’t cater to the garment industry anymore,” said Fred Posniak, senior vice president, frankly. Built for immediate occupancy, the four prebuilt spaces at 501 Seventh Avenue range in size from 2,641 square feet to 5,810 square feet.
Mr. Posniak spoke to The Commercial Observer last week about benefits and unique features offered on the 16th floor.