Gusto Expands Office Space In Manhattan With 13-Year Lease At 1 Pennsylvania Plaza

The property asset involved in this transaction is located at 1 Pennsylvania Plaza in Manhattan. It is an office asset comprising a total of 76,000 square feet. The asking rent for this space was $135 per square foot, and the lease terms include a 13-year lease agreement.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Address: 1 Pennsylvania Plaza
• Market: Manhattan
• Landlord: Steven Roth - Vornado Realty Trust
• Tenant: Gusto
• Landlord's Representatives: Josh Glick, Jared Silverman & Anthony Cugini - Vornado Realty Trust
• Tenant's Representatives: Jeffrey Fischer, Sacha Zarba & Conor Krup - CBRE
• Lease Terms: 13-year lease
• Expansion Size: 38,000 square feet
• Renewal Size: 38,000 square feet for five years

This transaction involved the expansion of Gusto's presence at Vornado Realty Trust’s Penn 1 office tower, allowing them to add additional space while renewing an existing lease. The key representatives from Vornado Realty Trust and CBRE played significant roles in facilitating the deal.