LinkedIn bucks Midtown South tech trend, expands lease in the Empire State building

New York /
Jul.July 10, 2012 01:30 PM

Only a year out from leasing the entire 25th floor of the Empire State building, the professional social networking company LinkedIn is expanding its 31,000-square-foot lease to 41,000 square feet, Crain’s reported. The Mountain View, Calif.-based tech firm will occupy an additional 10,000 square feet on the 24th floor of Midtown’s most iconic office building in a six-year lease, despite the popularity of Midtown South with tech firms.

“They were outgrowing their space,” Sacha Zarba, a CBRE Group broker representing LinkedIn, said. “They are being smart about real estate, making sure they take what they need and not taking more space too soon.” Newmark Knight Frank brokers William Cohen and Ryan Kass represented the building.

Malkin Holdings president and owner of the Empire State building Anthony Malkin stated that the asking rent was $51 per square foot, slightly below Midtown’s current $60.01 average asking rent for office space. [Crain’s]


Related Articles

arrow_forward_ios
A rendering of the facility at 1029 Newark Avenue in Elizabeth, Fidelco chairman Marc Berson and Elberon Development Group chairman Ann Evans Estabrook (Photos via JLL, Fidelco and Elberon)
Cold storage facility in New Jersey gets $34M loan
Cold storage facility in New Jersey gets $34M loan
Silverstein Properties' Larry Silverstein and Phase I of the Denizen Bushwick at 54 Noll Street (Getty, Google Maps/Illustration by Kevin Rebong for The Real Deal)
Silverstein offers to buy half of All Year’s Bushwick rental complex
Silverstein offers to buy half of All Year’s Bushwick rental complex
HSBC COO John Hinshaw (Getty, iStock)
HSBC to shrink its office footprint amid shift to WFH
HSBC to shrink its office footprint amid shift to WFH
SL Green CEO Marc Holliday, 625 Madison Avenue and Ashkenazy Acquisition CEO Ben Ashkenazy (Photos via SL Green, Google Maps/Illustration by Kevin Rebong for The Real Deal)
SL Green, Ben Ashkenazy duke it out over Madison Avenue office
SL Green, Ben Ashkenazy duke it out over Madison Avenue office
Heritage Equity Partners' Toby Moskovits and the Williamsburg Hotel at 96 Wythe Avenue (Moskovits via Sasha Maslov; Hotel via Williamsburg Hotel)
Toby Moskovits’ Williamsburg Hotel enters bankruptcy
Toby Moskovits’ Williamsburg Hotel enters bankruptcy
Softbank CEO Masayoshi Son and Adam Neumann (Getty/Illustration by Kevin Rebong for The Real Deal)
Adam Neumann, SoftBank near settlement agreement
Adam Neumann, SoftBank near settlement agreement
(iStock)
US hotel market had worst year since the Great Depression
US hotel market had worst year since the Great Depression
Pearl River Mart and 452 Broadway (Facebook/PearlRiverMart, Google Maps)
Pearl River Mart will move to 452 Broadway
Pearl River Mart will move to 452 Broadway
arrow_forward_ios

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

Loading...