Elsberg Baker & Maruri Leases 39,237 Square Feet At Empire State Building In Manhattan
20 West 34th Street
Building Size
39,237 SF
Asset Type
Office
Closing
Jul 21, 2025
AI
The asset involved in this transaction is an office space located at 20 West 34th Street in Manhattan. The lease covers a total area of 39,237 square feet, situated within the Empire State Building.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 20 West 34th Street
- Market: Manhattan
- Landlord: Anthony E. Malkin & Thomas Durels - Empire State Realty Trust
- Tenant: Elsberg Baker & Maruri
Anthony E. Malkin and Thomas Durels, representing the landlord Empire State Realty Trust, facilitated the lease transaction with tenant Elsberg Baker & Maruri, who has relocated from 1 Pennsylvania Plaza to accommodate their continued growth.
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