MSG Sports and Entertainment Business Takes 11K SF in Penn Station Area
Sports and entertainment business Madison Square Garden Company has picked up 10,500 square feet of office space amassing the entire 24th floor at 111 West 33rd Street, a source confirmed to Commercial Observer.
The public company—which got its name in 2015 following a spin-off from the larger Madison Square Garden Company, at that time renamed MSG Networks—signed a seven-year deal for the prebuilt space in the 26-story, 723,883-square-foot building between Seventh Avenue and Avenue of the Americas, as The New York Post reported. The asking rent was $69 per square foot, the Post said.
In May, Commercial Observer reported that Gap Inc. signed an 80,900-square-foot office lease in the structure for its female apparel and accessories brand Intermix. Other tenants include The Michael J. Fox Foundation in 86,000 square feet and landlord Empire State Realty Trust itself in 36,896 square feet.
Newmark (NMRK) Knight Frank’s Neil Goldmacher and Andrew Sachs represented MSG in the transaction. ESRT was represented in-house by Keith Cody along with NKF’s Scott Klau, Erik Harris and Neil Rubin. A spokesman for NKF didn’t provide comments to CO. And a spokeswoman for ESRT declined to comment.
Madison Square Garden Company is a live sports and entertainment company with a portfolio of sports teams, exclusive entertainment productions and venues.