Expedia Checking Into Upper Floor of Empire State Building
By Terence Cullen January 20, 2016 2:30 pm
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Online hotel and flight booking company Expedia has reserved itself an office space on the 72nd floor of the 102-story Empire State Building.
The company signed a 9,000-square-foot deal for office space at the 2.8-million-square-foot Midtown skyscraper, according to a press release from the landlord, Empire State Realty Trust.
The lease is for seven years, according to The New York Post, which first reported news of the deal. Asking rent on the 72nd floor was $74 per square foot, the paper said.
Paul Glickman, Jonathan Fanuzzi, Kip Orban and Harley Dalton of JLL represented the landlord along with Fred Posniak and Shanae Ursini in-house. Brian Hay, Timothy Hay, Sacha Zarba and Robert Hill of CBRE represented Expedia, and declined to comment via a spokeswoman.
Expedia joins a slew of other established technology companies in the building between West 33rd and West 34th Streets that include eBay and LinkedIn, which also expanded and extended its lease.
“The Empire State Building, with its unique urban campus amenities, continues to attract top tenants,” Thomas Durels, ESRT’s head of leasing, said in prepared remarks.
Lower down in the building, another tech company has increased its foothold by nearly one third.
Shutterstock has also recently signed a 25,000-square-foot expansion, which gives the online photo service more than 100,000 square feet at the Art Deco tower, according to the Post.
The company’s expanded space will be on the 34th floor, the Post reported, and extended its lease for 13 years. Asking rent in the Shutterstock deal was $69 per square foot. ESRT did not immediately comment.
Shutterstock’s expansion comes less than three years after the tech company moved into the 85-year-old building. The firm first signed a 80,000-square-foot lease for the 20th and 21st floors in March 2013, as CO reported at the time.
Paul Ippolito of Newmark Grubb Knight Frank represented Shutterstock in the recent expansion, while Mr. Posniak and Ms. Ursini represented the landlord in-house. Mr. Ippolito did not immediately respond to a request for comment via a NGKF spokeswoman.
Professional networking site LinkedIn has become one of the biggest tenants in the landmark building—occupying roughly 280,000 square feet. It expanded by about 130,000 square feet in July, as CO reported. Previously, LinkedIn had leased 150,000 square feet on the 22nd, 23rd, 25th and 28th floors.
