Fertility Benefits Firm Progyny Takes 70K SF at 1359 Broadway
By Rebecca Baird-Remba March 1, 2022 5:21 pm
reprints
Progyny, a company that provides fertility benefits and insurance, is taking more than 70,000 square feet of office space at 1359 Broadway, according to landlord Empire State Realty Trust.
The company signed a 13-year lease for 70,573 square feet across three floors in the 22-story building, which sits at the corner of West 36th Street near Herald Square. Asking rent in the deal was in the mid-$60s per square foot, an ESRT spokesperson said.
Progyny was previously a subtenant in the building — having taken 25,000 square feet from IHS Markit in 2019 — and its new direct lease includes its previous sublease space, a second floor that it will move into later this year and a third floor that it will occupy in 2024.
“We are growing rapidly as more and more employers recognize the value of Progyny’s comprehensive fertility and family building solution,” Pete Anevski, the CEO of Progyny, said in a statement. “We look forward to expanding our presence in our corporate office in New York City with Empire State Realty Trust.”
David Falk, Kyle Ciminelli, and Dylan Weisman of Newmark represented Progyny. Shanae Ursini and Jordan Berger handled the transaction in-house for the landlord, along with Paul Amrich, Emily Chabrier, Neil King and Meghan Allen of CBRE. A CBRE spokesperson declined to comment, and a Newmark representative didn’t immediately respond.
“Our premier indoor environmental-quality measures and energy-efficient practices continue to attract high-quality tenants who appreciate our value proposition,” said Thomas Durels, an executive vice president for real estate at ESRT. “Progyny is a welcome addition to our excellent tenant roster at 1359 Broadway after a successful sublease.”
Rebecca Baird-Remba can be reached at rbairdremba@commericalobserver.com.
