Greater New York Mutual Insurance Takes 52K SF at Empire State Building
By Nicholas Rizzi January 25, 2024 12:48 pm
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Greater New York Mutual Insurance is taking a full floor at the Empire State Building.
The company signed a 17-year lease for 52,116 square feet at the 102-story skyscraper at West 34th Street and Fifth Avenue, Bloomberg reported.
Spokespeople for GNY Mutual and Empire State Building owner Empire State Realty Trust (ESRT) did not immediately respond to requests for comment.
Names of the brokers and the asking rent were not disclosed, but asking rents in the historic tower range from $69 to $87 per square foot, as Commercial Observer previously reported.
GNY Mutual currently has its headquarters at 200 Madison Avenue. It’s unclear if the insurance company will relocate to the Empire State Building or open a new office.
The company was founded in 1914 and has about 400 employees, according to its website. It focuses on commercial property and casualty insurance.
Other recent deals in the landmarked Empire State Building include LinkedIn expanding to a whopping 526,241 square feet; coffee chain Starbucks relocating its only New York offices from 370 Seventh Avenue to 24,460 square feet in the tower; and financial services consultant Capco taking 26,620 square feet.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
