NEW YORK-(PRNewswire) – Empire State Realty Trust (NYSE: ESRT) has signed a 17,500 sq. ft. full-floor office lease with iCapital Network (iCapital) at One Grand Central Place.
“Beyond finding appropriately-sized space to accommodate its growth, iCapital sought private outdoor terrace space, in-building access to Grand Central Terminal and a full-floor identity,” said Thomas P. Durels, Executive Vice President and Director of Leasing and Operations for ESRT. “iCapital is the type of high quality, innovative tenant to whom we have been leasing within our portfolio.”
iCapital is a financial technology platform democratizing access to alternative investments for high-net-worth individuals, registered investment advisors, broker-dealers, private banks, and family offices. Founded in 2013, iCapital’s state-of-the-art online portal offers a curated selection of private investments, along with extensive due diligence support, an automated subscription process and integration with a wide range of custodial platforms and reporting packages.
Lauren Crowley Corrinet, Alexander Golod and Chris Hogan of CBRE represented iCapital in the lease negotiations. Julie Christiano and Lindsay Godard represented ESRT in the above transaction, along with William Cohen and Andrew Weiszof Newmark Grubb Knight Frank.
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world’s most famous building. Headquartered in New York, New York, the Company’s office and retail portfolio covers 10.1 million rentable square feet, as of March 31, 2017, consisting of 9.4 million rentable square feet in 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York; and approximately 708,000 rentable square feet in the retail portfolio.
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SOURCE Empire State Realty Trust, Inc.
Disclosures: This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as, legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by iCapital. Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change. Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. iCapital is a registered trademark of Institutional Capital Network, Inc. All rights reserved.