Signature Bank Expands by 170K SF at 1400 Broadway
By Rebecca Baird-Remba January 5, 2022 12:26 pm
reprints
Signature Bank is growing again at 1400 Broadway, adding 168,310 square feet to its existing 111,872 square feet in the building, landlord Empire State Realty Trust announced Wednesday.
The expansion brings Signature Bank’s footprint to 280,182 square feet across 10 floors in the 37-story building between West 38th and West 39th streets. Asking rent in the 15-year lease was $67 per square foot.
Elsewhere in the building, French skincare company Clarins leased an entire 15,100-square-foot floor for a new office. Clarins will relocate from One Park Avenue in Midtown East, where it has space on the 19th floor. Asking rent in the 10-year lease was $67 per square foot.
Michael Cohen, Andrew Roos and Howard Kaplowitz of Colliers represented Signature Bank in the negotiations. Scott Weiss of Savills represented Clarins in its lease. For both deals, Ryan Kass handled the transaction in-house for the landlord, along with Scott Klau, Erik Harris and Neil Rubin of Newmark.
Over on the East Side, iCapital Network expanded its footprint again at another ESRT building, One Grand Central Place.
After doubling its space in October, iCapital has added another 17,459 square feet to its existing 64,537-square-foot space. It will now occupy a total of 81,996 square feet across four floors in the 55-story building across from Grand Central Terminal. Asking rent in the 12-year lease was $72 per square foot.
Lauren Crowley Corrinet, Alexander Golod and Christopher Hogan of CBRE represented iCapital in the lease negotiations. The landlord brokerage team was the same as at 1400 Broadway, with the addition of William Cohen from Newmark.
Spokespeople for Colliers, Savills, CBRE and Newmark did not immediately return requests for comment.
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
