Signature Bank Expands Manhattan Footprint

The commercial bank added 20,691 square feet to its space at Empire State Realty Trust’s Midtown office tower, bringing its total square footage to 111,872.
1400 Broadway

Signature Bank has expanded its footprint at Empire State Realty Trust’s 1400 Broadway in New York City. The bank inked a full-floor expansion lease for an additional 20,691 square feet on the 26th floor.

Earlier this year, Signature Bank signed a 91,181-square-foot full-floor lease for the 6th, 7th and 27th floors of the Midtown Manhattan office building. The new lease brings the bank’s total square footage at the property to 111,872 square feet.

“With an expansion only two months after they signed a lease for three full floors at 1400 Broadway, Signature Bank becomes the 155th tenant, totaling more than 1 million square feet, to expand with ESRT since our IPO in 2013,” said Thomas Durels, executive vice president of real estate at ESRT, in prepared remarks.

The building was constructed in 1930 and comprises a total of 919,405 square feet. In 2010, the property underwent a complete renovation. It is located within minutes of two subway stations and Times Square is within a five-minute walk. The building also features 18,000 square feet of retail space.

Andrew Roos, Michael Cohen and Howard Kaplowitz of Colliers International represented Signature Bank in the lease negotiations. Keith Cody and Leslie Nadel of ESRT, along with Newmark Knight Frank’s Scott Klau, Erik Harris and Neil Rubin represented the landlord.

Earlier this week, advisory firm FOJP Service Corp. inked a lease for 41,836 square feet at ESRT’s 111 W. 33rd St. in Manhattan.

Image courtesy of Yardi Matrix