Financial Advisory Firm Pontera Relocating to 41K SF in Empire State Building
By Mark Hallum May 28, 2024 10:27 am
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Financial advisory firm Pontera Solutions is moving about within Empire State Realty Trust’s (ESRT) portfolio to the Empire State Building.
Pontera signed a deal for 40,679 square feet in the landmark building, in a relocation from its current 10,539-square-foot offices at ESRT’s 111 West 33rd Street, the New York Post first reported.
ESRT did not disclose the length of the lease in the 102-story skyscraper but said asking rent was $79 per square foot.
“ESRT is a top destination for the market’s flight to quality and has seen more than 2.7 million square feet of tenant expansions since our IPO [in 2013],” Thomas Durels, ESRT’s executive vice president of real estate, said in a statement.
Shanae Ursini represented ESRT in-house in the deal along with Newmark (NMRK)’s Scott Klau, Erik Harris and Neil Rubin. JLL (JLL)’s Justin Haber and Kyle Riker negotiated on behalf of Pontera. JLL and Newmark did not immediately respond to a request for comment.
Other recent deals in the Empire State Building include Greater New York Mutual Insurance signing a 17-year lease for 52,116 square feet and LinkedIn cutting a deal in October 2023 for an extra 25,000 square feet in a 10-year renewal, bringing its total in the skyscraper to 143,778 square feet.
Mark Hallum can be reached at mhallum@commercialobserver.com.
