Music Rights Manager SESAC Relocates on Billionaires’ Row
By Rebecca Baird-Remba May 19, 2022 4:58 pm
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SESAC, a music rights management company, has leased the entire 24th floor at 250 West 57th Street, according to landlord Empire State Realty Trust.
The company, which was founded in 1930 as the Society of European Stage Authors and Composers, inked a 10-year lease for 12,611 square feet. Asking rent in the deal was in the high $60s per square foot.
The Nashville-based organization will relocate down the street from the 57th floor of 152 West 57th Street, ESRT told Commercial Observer. SESAC also has offices at 40 Wall Street in the Financial District.
The 26-story, 540,000-square-foot property between Broadway and Eighth Avenue recently underwent significant renovations, including a new lobby, new windows and updated electrical, HVAC and plumbing systems.
TJ Hochanadel of JLL represented SESAC in the lease negotiation. Jordan Berger handled the deal in-house for ESRT, along with Paul Amrich, Neil King, Alexander Golod and Anthony Manginelli of CBRE. Spokespeople for JLL and CBRE didn’t immediately respond to a request for comment.
The building also has other music-related tenants, such as music publisher Concord, music rights nonprofit ASCAP, production group Distinguished Concerts International New York.
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
