Financial Consulting Firm Capco Moving to 26K SF at Empire State Building
By Rebecca Baird-Remba July 25, 2023 4:59 pm
reprints
Capco, a financial services consultant, has leased an entire floor in the Empire State Building, according to landlord Empire State Realty Trust.
The London-based management consultancy inked a 10-year, 26,620-square-foot lease on the building’s 68th floor. The company will relocate from its current office on the 10th floor of 77 Water Street in the Financial District. Asking rent for the space was $87 per square foot, according to an ESRT spokesperson.
The deal comes a month after Skanska and Aprio together leased 40,000 square feet in the 102-story Art Deco skyscraper.
“We are pleased to partner with ESRT for our new office space in this iconic building,” said Mike Ethelston, the managing partner of Capco’s U.S. and Brazil offices, in a statement. “The Empire State Building exceeded our expectations with its blend of heritage, contemporary design and energy efficiency, and it will offer our people top-tier amenities in an accessible location close to many of our clients.”
Jared Horowitz and Jason Perla of Newmark (NMRK) represented Capco in the lease. Shanae Ursini and Jordan Berger of ESRT, along with Scott Klau and Neil Rubin of Newmark, represented the landlord.
“The Empire State Building’s over $650 million modernization has made it the leader in energy efficiency, sustainability, indoor environmental quality and tenant amenities,” Klau said in a statement. “Along with its incredible location and ESRT’s best-in-class balance sheet, these differentiators have resonated with the market and produced extraordinary leasing activity.”
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
