Nespresso Consolidates Offices in Herald Square
The coffee maker’s new 41,800-square-foot home will bring together its employees from 24-01 44th Road in Long Island City, Queens and 100 Park Avenue in Midtown East, according to The New York Post. The length of the new lease wasn’t clear, but the Post noted that the asking rent was $64 a square foot.
JLL (JLL)’s Scott Panzer and Justin Haber represented Nespresso in the transaction. Newmark (NMRK) Knight Frank’s Scott Klau, Erik Harris and Neil Rubin, along with Keith Cody in-house, handled the deal for the landlord.
“Nespresso’s new fifth-floor home will have an efficient floor plate and a beautiful outdoor terrace at 111 West 33rd Street where we have recently renovated the building’s lobby, elevators, and entryways on both 33rd and 34th Streets designed by STUDIOS Architecture,” said Thomas Durels, an ESRT executive vice president, in prepared remarks.
The JLL brokers declined to comment through a spokesman.
ESRT has owned the 26-story building between Broadway and Seventh Avenue since 2008, when it purchased the property for $9.5 million. Other office tenants in the building include Regus, MSG Sports and Entertainment and Empire State Realty Trust itself. Sephora, Foot Locker and Hour Passion occupy the ground-floor retail spaces.