Samsung Expands Lease To 71,000 Square Feet At Vornado's Penn 1 In Midtown Manhattan

The asset involved in this transaction is an office space located at 250 West 34th Street in Midtown Manhattan. The property has a total square footage of 71,000 square feet, with an asking rent of $110 per square foot.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $110/ft
• Address: 250 West 34th Street
• Market: Midtown Manhattan
• Landlord: Steven Roth - Vornado
• Tenant: KS Choi - Samsung
• Landlord's Representative: Josh Glick - Vornado Realty Trust
• Tenant's Representative: Matthew Astrachan - JLL
• Square Footage: 71,000

In this transaction, Samsung has doubled its lease at Vornado’s Penn 1 by adding 35,000 square feet on the 25th floor while renewing its original lease on the 26th floor. The new 10-year lease consolidates Samsung’s ad sales group at the property.