Empire State Building is looking for tenants to fill vacant retail square

Empire State Building is looking for tenants to fill vacant retail square

The owners of the most famous skyscraper in new York looking for new tenants to fill 50,000 square feet of commercial space by the year 2020. Bloomberg writes that the owners Empire State Building want to take the entire first floor, main lobby and the property is on the second floor of the building for the first time since 1931, is undergoing restoration. In addition, the entrance to the observation deck of the skyscraper will be moved to Fifth Avenue at 34th Street.

This is the largest amount of retail space, which surrendered in the iconic skyscraper, built in the style of art deco. Jeffrey Roseman, Executive Vice President of brokerage Newmark Knight Frank, told Bloomberg that because of the intense patency near the building of the Empire State Building, the tenants of the skyscraper will not affect the high level of vacant land that affect other retail shops in the same area.

Empire State Building is looking for tenants to fill vacant retail square

Besides successful location, tenants must also bring a utility room with an area of 36 000 square feet and 19-foot ceilings. Currently available for lease approximately 24,000 square feet; the rest of the place is the Heartland Brewery and Rotisserie, the contract which is valid till 2020.

The share of profits from rental of retail space is just us $ 5.6 million of total revenue from the skyscraper in the amount of $ 233,1 million earned in the first nine months of 2017. During the same period of the previous year, retail trade has brought 7.2 million.

At the request of the Commission for the protection of monuments, if one of the new tenants of the Empire State Building will become the chain stores, coffee shops or eateries, such as Starbucks, Walgreens or Chipotle, they will have to register their signs in the art Deco style.

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