LinkedIn Takes Another 189K SF in the Empire State Building
LinkedIn signed a deal to take another 188,653 square feet on the 24th floor and lower three-tower floors of the iconic skyscraper at 350 Fifth Avenue, boosting its footprint to 501,600 square feet in the property, a spokeswoman for the landlord Empire State Realty Trust confirmed. Asking rent was $78 per square foot.
Part of the social network’s expansion includes space formerly occupied by beauty company Coty, according to the New York Post, which first reported news of the deal.
LinkedIn first moved into the Art Deco skyscraper in 2011 and the lease marks the social network’s seventh expansion in the tower. It has space on the third floor as well as the 22nd through 28th floors and in July 2018 took 30,165 square feet on the 27th floor, Commercial Observer previously reported.
ESRT handled the deal in-house by Ryan Kass and Shanae Ursini while CBRE (CBRE)’s Sacha Zarba, Lauren Crowley Corrinet and Chris Hogan represented LinkedIn. A spokeswoman for CBRE declined to comment.
“The LinkedIn and ESRT teams have worked together for many years to assure flexibility and growth in our successful relationship,” Anthony Malkin, the chairman and CEO of ESRT, said in a statement. “It was great to assist LinkedIn with their long-term strategy, and at the same time support the desires of another excellent relationship with their desired reduction in footprint.”
Other tenants in the 2.2-million-square-foot building include construction giant Skanska, fashion firm Global Brands Group and stock photography provider Shutterstock.