LinkedIn Takes Over Even More Space at the Empire State Building
- Jul 27, 2015
By Veronica Grecu, Associate Editor
After creating quite a stir a few weeks ago with the decision to turn its normally white lights to green to mark the end of the Muslim holy month of Ramadan, the Empire State Building went back to safer business.
The 101-story iconic tower is ready to welcome even more LinkedIn employees within its Platinum-certified floors. The employment networking company will more than double the space it occupies at 350 Fifth Ave. at 34th St. in Midtown Manhattan.
The expansion comes four years after LinkedIn stepped into the world’s most famous building. As previously reported by Commercial Property Executive, back in 2011 the company leased 32,000 square feet—or the entire 25th floor—of Class A office space at the property. In fall 2012, the Mountain View, Calif.-based tech giant signed a 10-year lease for another 40,780 square feet on the 23rd floor. Since then, the professional network gradually expanded to fully occupy the 22nd and 28th floors for a total of 135,000 square feet.
LinkedIn, who was brokered by CBRE’s Sacha Zarba, Lauren Crowley, and Greg Tosko in the lease negotiations, will grow its presence at the Empire State Building by an additional 130,000 square feet on the entire third and 26th floors, bringing the company’s occupancy to 280,000 square feet on seven floors. Empire State Realty Trust, the REIT that owns the office building, was represented in-house by Ryan Kass and a leasing team from Newmark Grubb Knight Frank.
According to the New York Business Journal, asking rents for the lower base floors clock in at around $60 per square foot.
Image via ESB official website