Signature Bank Expands to 313K SF at 1400 Broadway
By Rebecca Baird-Remba April 4, 2022 5:09 pm
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Signature Bank is once again growing its office footprint at 1400 Broadway, Commercial Observer has learned.
The commercial bank has added 32,927 square feet to its existing offices in the building, bringing its presence to 313,109 square feet, according to landlord Empire State Realty Trust. It will take over the 16th floor and occupy 11 stories of the 37-story building between West 38th and West 39th streets on a long-term lease.
Signature previously expanded in January, adding 168,310 square feet to its previous space for 280,182 square feet. Asking rent in Signature’s 15-year lease was $67 a square foot.
“ESRT continues to benefit from the market flight to quality,” said Thomas Durels, an executive vice president at ESRT. “Signature, a top financial institution, understands ESRT is an industry leader in energy efficiency, indoor environmental quality, and healthy buildings and has taken advantage of our value proposition at 1400 Broadway.”
Michael Cohen, Andrew Roos and Howard Kaplowitz of Colliers represented Signature Bank in the lease negotiations. Scott Klau, Erik Harris and Neil Rubin of Newmark handled it for the landlord, along with Ryan Kass of ESRT.
Spokespeople for Colliers and Newmark didn’t immediately return a request for comment.
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
