The Real Deal New York

Workday inks deal for office at Empire State Building

Human-resources software vendor taking more than 21K sf
April 08, 2015 01:55PM

Workday is relocating its New York headquarters to a 21,401 square foot space on the 49th floor of the Empire State Building – moving its operations from one Empire State Realty Trust property to another.

The human-resources software vendor currently occupies 7,000 square feet at One Grand Central Place On East 42nd Street, but plans to make the move this fall, according to the New York Post.

Workday follows broadcasting company Media General, which announced in January That It Would Move From One Grand Central Place to a 26,782 square foot space on Empire State Building’s 62nd floor.

Asking rents at One Grand Central Place have been rising and were in the high-$50s per square foot at the end of last year, the Post reports, adding that ESRT is now asking $65 per square foot for space on the 48th floor.

Robert Lowe and David Berke of Cushman & Wakefield represented Workday. Ryan Kass and Fred Posniak of Empire State Realty Trust, as well as William Cohen, Jonathan Tootell and Shanae Ursini of Newmark Grubb Knight Frank represented the building. [NYP, 3rd] — Rey Mashayekhi