It wasn’t that long ago that the New York Times, a newspaper that had never heard of a commercial real estate success story, declared the Empire State Building to be a near disaster.
More than a dozen Times reporters worked together Gorgeously illustrated article In 2021, the future of this great landmark was declared “uncertain” due to tenant exodus caused by the pandemic and the impact of working from home on the office market.
But as we’ve reported multiple times since the Times’ embarrassing debacle, King Kong’s favorite skyscraper continues to thrive.
The company’s office and retail space, which was 90 percent leased at the time of his untimely passing, is now 93 percent leased, according to Empire State Realty Trust’s first-quarter earnings report.
In the latest new office deal, Pontera Solutions signed for 41,000 square feet, relocating and expanding from 10,539 square feet at ESRT, 111 W. 33rd St. Pontera is a fintech company that specializes in software for financial advisors on retirement accounts.
The rent offered was $79 per square foot.
The company’s move to the Empire State follows that of Greater New York Mutual Insurance Company, which recently leased one floor, 52,000 square feet of space.
JLL’s Justin Haber and Kyle Liker represented Pontella. Newmark’s Scott Clough, Eric Harris and Neil Rubin represented the landlord, with ESRT’s Shanae Ursini acting as in-house counsel.
The Empire State Building recently welcomed Ghirardelli and Samurai Rice as new retail tenants.
Since assuming sole management, ESRT has spent nearly $1 billion modernizing and upgrading the tower, with more progress planned for the future.
A residents-only amenity center will open soon, featuring basketball and pickleball courts, a golf simulator, a “town hall” space and a lounge.
