ESRT Putting 1359 Broadway Up for Sale, Seeking $225M
The 22-story office and retail tower is roughly 95 percent leased
By Cathy Cunningham July 23, 2026 11:30 am
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Empire State Realty Trust is parting ways with its mixed-use building at 1359 Broadway and marketing it for sale, sources familiar with the move told Commercial Observer.
The property is expected to fetch around $225 million, with the winning buyer owning the fee simple interest in the 486,000-square-foot, 22-story office and retail property at the corner of Broadway and 36th Street two blocks north of Herald Square.
The building is a short walk from both Penn Station and Grand Central Terminal and roughly 95 percent leased to a diverse mix of tenants today, with plenty of leasing momentum. Only a few days ago, manufacturer Infinium Wall Systems signed a lease for 30,017 square feet at the property, and the second quarter of 2025, ESRT signed 38,000 square feet of leases between SLCE Architects and nonprofit Braven.
As for the retail component, it’s anchored by Wolfgang’s Steakhouse and also includes Japanese restaurant Wokuni.
Newmark’s Adam Spies, Josh King, Adam Doneger, Avery Silverstein, Marcela Fasulo and Doug Harmon are leading the sale, sources said, and no debt currently encumbers the property.
The sale of 1359 Broadway follows lots of portfolio comings and goings for ESRT. Last month the real estate investment trust (REIT) closed on the $114 million acquisition of the land beneath 111 West 33rd Street and 1400 Broadway. Two months earlier, in April, it went under contract to sell its 26-story office building at 250 West 57th Street to Namdar Realty Group for roughly $280 million. Last, but certainly not least, in December the REIT made headlines when it bought Scholastic’s building at 555-557 Broadway in SoHo for $386 million. The same Newmark team arranged both the 250 West 57th Street and Scholastic building deals.
Sources familiar with the moves said ESRT is in the process of upgrading its portfolio and recycling capital in the process.
ESRT and Newmark didn’t immediately return requests for comment.
Cathy Cunningham can be reached at ccunningham@commercialobserver.com.
