In the third quarter, landlord Empire State Realty Trust (ESRT) recorded new lease agreements totalling more than 28,600 square feet in the historic Empire State Building in Midtown Manhattan. The largest transaction was secured by architecture practice Corgan, which is substantially expanding its existing space in the listed office tower.
Corgan signed a 12.4-year lease for an additional 15,157 square feet. Building on the 26,035 square feet it previously occupied, the company's total footprint in the building increases to 41,192 square feet. According to the landlord's latest quarterly report, the expansion follows a series of alterations on the 54th floor, which consolidated teams from other offices at this location.
Inflow from the financial sector and rent levels
Alongside the expansion of the architecture firm, ESRT reported another new agreement: supply chain finance specialist Zenyth Advisors agreed an 11-year lease for 13,459 square feet. Which brokerage firms were involved in the two transactions was not initially disclosed.
ESRT did not provide detailed information regarding current asking rents. Most recently, asking rents in the property stood at 96 US dollars per square foot in July. ESRT informed capital markets of the transactions on Tuesday during its third-quarter earnings call, reporting solid demand across the office and leasing sector.
Significant deals in the Empire State Building
The latest leases complement several large-scale letting successes that the Real Estate Investment Trust has announced for the world-famous tower in recent months:
- —Los Angeles-based United Talent Agency leased a total of 100,948 square feet in July.
- —Law firm Elsberg Baker & Maruri signed a lease for 39,237 square feet in July 2025.
- —Following modernisations, Corgan expanded its presence to 41,192 square feet of office space.
- —Zenyth Advisors signed a long-term lease for 13,459 square feet over eleven years.
With these latest agreements, steady demand from established service providers for high-quality office space in New York landmark properties continues.
