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Empire State Realty Trust Leases Office Space To Ground Up International In Midtown Manhattan

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LEASED
$47

New York

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Office30,000 SF
Leased 04/02/2024
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Property Image
LEASED

Empire State Realty Trust Leases Office Space To Ground Up International In Midtown Manhattan

1333 Broadway

See Similar Deals
Office30,000 SF
Leased 04/02/2024
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$47
Total Square Footage:30,000 SF
Transaction Type:Lease

The office property located at 1333 Broadway in Midtown South, Manhattan, was involved in a lease transaction. The sublandlord, Xcel Brands, leased the space from the landlord, Empire State Realty Trust, to subtenant Ground Up International. The lease type was a Modified Gross Lease, with an asking rent of $47 per square foot for a total of 30,000 square feet.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not provided
  • Address: 1333 Broadway
  • Market: Midtown South, Manhattan
  • Sublandlord: Xcel Brands
  • Landlord: Empire State Realty Trust
  • Subtenant: Ground Up International
  • Brokers: Daniel Lolai & Joel Kubie - LSL Advisors; Marc Kritzer - Elite Mak
  • Asking Rent: $47/ft
  • Lease Type: Modified Gross Lease

The deal was facilitated by brokers Daniel Lolai and Joel Kubie from LSL Advisors, along with Marc Kritzer from Elite Mak. These key individuals played a crucial role in the successful negotiation and completion of the lease transaction at 1333 Broadway.

Players

Daniel Lolai
91 deals$211.9M volume
BROKER

Joel Kubie
Benchmark Properties
23 deals$60M volume(646) 793-9222
BROKER

Marc Kritzer
1 deal
BROKER

Details

LEASED
IMAGE: Daniel Lolai, Marc Kritzer & Joel Kubie DATE: 04/02/2024 ADDRESS: 1333 Broadway MARKET: Midtown South, Manhattan ASSET TYPE: Office SUBLANDLORD: Xcel Brands LANDLORD: Empire State Realty Trust (@ESRTSocial) SUBTENANT: Ground Up International BROKERS: Daniel Lolai (@DanLolai) & Joel Kubie - LSL Advisors (@LSLAdvisors); Marc Kritzer - Elite Mak ASKING RENT: $47/ft ~ SF: 30,000 LEASE TYPE: Modified Gross Lease

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Deal Type
Effective Rent (Annual)

$1,616,406.98

Total Lease Value

$16,164,069.83

Net Landlord Cash Flow$1,616,406.98