HNTB Corporation, an infrastructure solutions provider, will move from 5 Penn Plaza to the Empire State Building by the end of the year.
Founded in 1914 and named one of the 10 Most Innovative Companies for 2015 by Fast Company, HNTB signed a 10-year and five-month lease for 78,000 square feet on floors 56, 57, and 58, according to a press release. The floor plan is the result of a planned consolidation of many suites.
Asking price was in the $60s per square foot.
The Empire State Building, which sits at 350 Fifth Avenue between East 33rd and East 34th Streets, has 102 floors and close to 2.8 million square feet of rentable space. It was built in 1931.
Sven Sykes, Tyler Owens and Mark Friedman of Colliers International represented HNTB in the transaction. They did not immediately respond to a request for comment.
“We have terrific momentum in leasing at the Empire State Building, and while HNTB’s lease reduces our current inventory to two full floors, we will be delivering to the market two full floors in 2015,” said Thomas P. Durels of Empire State Realty Trust which owns the 1454-foot-tall building, in a prepared statement.
Fred C. Posniak of ESRT, along with William Cohen, Jonathan Tootell and Shanae Ursini of Newmark Grubb Knight Frank represented the landlord in the transaction. The brokers were unavailable for comment, according to a spokeswoman.
David Bleckner of Bleckner P.C. served as the landlord’s attorney. Mr. Bleckner said he is unable to comment for confidentiality reasons.