Empire State Realty Trust Signs New Tenant at 250 W. 57th in NY
- Mar 18, 2016
By Ioana Neamt, Associate Editor
New York—Empire State Realty Trust (ESRT), a real estate investment trust that owns, manages, operates, acquires and repositions office and retail assets in the greater New York area, recently signed a new tenant at 250 W. 57th St. in Manhattan.
ESRT has leased the entire tenth floor and 37,680 square feet on the ninth floor of the building to GuildNet, the insurance affiliate of Lighthouse Guild International Inc. CBRE’s Brian Gell and Laurence Briody, Jr. represented GuildNet in the lease negotiations, while Keith Cody of ESRT, alongside Harry Blair and Sean Kearns of Cushman & Wakefield provided landlord representation.
“We have executed two recent full-floor transactions at 250 West 57th Street: COOKFOX Architects and now GuildNet,” Thomas Durels, executive vice president & director of leasing and operations for ESRT, said in prepared remarks. “We are creating five efficient, full-floor opportunities with views from Times Square to Central Park by consolidating over 60 suites.”
The 26-story office tower at 250 W. 57th St. is conveniently located just steps from the Time Warner Center, Carnegie Hall, the Lincoln Center, and Nordstrom’s future flagship location. The building is currently undergoing extensive renovations, and will feature a new Gensler-designed lobby, building entrance, modernized elevator system and elevator cabs, retail storefronts and a cooling tower. Part of the city’s upscale Billionaires’ Row neighborhood, the property also offers access to five subway lines and the soon-to-open TurnStyle.