Leases  ·  Office

Signature Bank Grows to 111K SF at 1400 Broadway


Fresh off a big lease at Empire State Realty Trust’s 1400 Broadway, Signature Bank (SBNY) is expanding its space to more than 100,000 square feet at the Art Deco office tower near Bryant Park, the landlord told Commercial Observer.

The financial institution inked a 20,691-square-foot expansion deal on the 26th floor after leasing 91,181 square feet for 15 years across the sixth, seventh and 27th floors in September. The transaction brings the bank’s footprint up to 111,872 square feet in the building between West 38th and West 39th Streets. Asking rents for Signature’s space ranged from $64 to $67 a square foot, as CO previously reported.

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Signature, which is headquartered at 565 Fifth Avenue, is consolidating its offices at 29 West 38th Street and 177 Avenue of the Americas into the new space at 1400 Broadway.

“With an expansion only two months after they signed a lease for three full floors at 1400 Broadway, Signature Bank becomes the 155th tenant, totaling more than 1 million square feet, to expand with ESRT since our IPO in 2013,” said Thomas P. Durels, ESRT’s executive vice president of real estate, in prepared remarks.

Colliers (CIGI) International’s Andrew Roos, Michael Cohen and Howard Kaplowitz handled the transaction for Signature Bank. Keith Cody and Leslie Nadel of ESRT represented the landlord in-house, along with Newmark Knight Frank’s Scott Klau, Erik Harris and Neil Rubin. A spokesman for Colliers deferred comment to ESRT, and the NKF brokers declined to comment via a spokesman.