Hong Kong company finally signs 490,000-square-foot lease in Empire State Building

New York /
Jan.January 06, 2011 08:24 AM
Anthony Malkin and the Empire State building

Li & Fung, a Hong Kong-based trading company, signed a lease yesterday for 490,000 square feet in the Empire State Building, the largest deal of the new year and one which would have also topped last year’s list, the Post reported. The deal comes after months of negotiation between the landlord and tenant. The lease includes several floors in the base of the building, which has asking rents ranging from the mid-$40s a square foot to the high $50s, according to CoStar. Anthony Malkin, president of W&H Properties, which owns the Empire State Building, declined to comment, as did Li & Fung. Li & Fung already leases space in Malkin’s 1333 Broadway and 1359 Broadway. Mitchell Konsker and Alexander Chudnoff, who left Cushman & Wakefield yesterday for Jones Lang LaSalle, represented Li & Fung. William Cohen and Ryan Kass of Newmark Knight Frank represented the Empire State Building, which is now undergoing a modernization. The building just signed a contract with Green Mountain Energy to become the city’s largest 100-percent wind-powered commercial user.
[Post]


Related Articles

arrow_forward_ios
Cushman & Wakefield CEO Brett White, Mayor Bill de Blasio, and Donald Trump, Eric Trump and Donald Trump Jr. (Getty)
Cushman & Wakefield, NYC cut ties to Trump Organization
Cushman & Wakefield, NYC cut ties to Trump Organization
Brock Emmetsberger and B6 CEO Paul Massey (Photos via JLL; Massey via Axel Dupeux)
Veteran broker Brock Emmetsberger joins B6
Veteran broker Brock Emmetsberger joins B6
JLL CEO Christian Ulbrich, Trump International Hotel in Washington DC and Donald Trump (Getty; Trump Hotels)
JLL backs out of selling Trump’s DC hotel
JLL backs out of selling Trump’s DC hotel
Cushman & Wakefield's Toby Dodd with One Pierrepont Plaza in Brooklyn and One World Trade Center (Photos via Cushman, Brookfield and Pixabay)
Cushman to consolidate its Lower Manhattan and Brooklyn offices
Cushman to consolidate its Lower Manhattan and Brooklyn offices
The discrimination suit filed against Cushman alleges the firm underpaid an employee of color — along with others on his team — compared to white colleagues. (iStock)
Ex-Cushman employee accuses firm of pay discrimination
Ex-Cushman employee accuses firm of pay discrimination
From left: former Vornado CFO Joseph Macnow; ; Howard Hughes Corporation CEO David O’Reilly, former Cushman & Wakefield CFO Duncan Palmer (Photos via Vornado, Howard Hughes, Cushman & Wakefield)
Leadership shake-ups hit Vornado, Cushman & Wakefield and Howard Hughes
Leadership shake-ups hit Vornado, Cushman & Wakefield and Howard Hughes
Cushman & Wakefield CEO Brett White and CFO Duncan Palmer (Photos via Cushman & Wakefield)
Cushman reports $37.3M loss in Q3
Cushman reports $37.3M loss in Q3
JLL CEO Christian Ulbrich (Getty)
JLL says hasn’t seen “anything worth spending our…money on” after reportedly passing on Cushman
JLL says hasn’t seen “anything worth spending our…money on” after reportedly passing on Cushman
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...