Carl Eschenbach Of Workday Inc Signs Lease Renewal And Expansion At Empire State Building
20 West 34th Street
Building Size
39,069 SF
Asset Type
Office
Closing
Apr 17, 2025
AI
The property involved in this transaction is an office space located at 20 West 34th Street in the Financial District of Manhattan. The total square footage of the asset is 39,069 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Thomas Durels & Anthony E. Malkin - Empire State Realty Trust, Inc.
- Tenant: Carl Eschenbach - Workday, Inc.
- Lease Type: Renewal and expansion
- Lease Area Added: 12,338 sf
The transaction features key participants, including Thomas Durels and Anthony E. Malkin, representing the landlord, Empire State Realty Trust, Inc., and Carl Eschenbach, the tenant representing Workday, Inc. This lease renewal and expansion reflects Workday's commitment to its operations at the Empire State Building.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93