Signature Bank inks 16-year lease at ESRT’s 1400 Broadway

Company is taking more than 90K sf
September 26, 2018 12:00PM

1400 Broadway (Credit: Google Maps)

Signature Bank has inked a 16-year lease for three floors at Empire State Realty Trust’s 1400 Broadway.

The bank is taking 91,180 square feet on the sixth, seventh and 27th floors, the New York Post reported. The asking rent was $64 per square foot for the lower floors and $67 per square foot for the 27th floor, which comes to roughly $3.6 million.

Colliers International’s Michael Cohen, Andrew Roos and Howard Kaplowitz represented Signature in the deal. The landlord was represented in-house by Keith Cody as well as Neil Rubin of Newmark Knight Frank.

The bank will be moving from its locations at 29 West 38th Street and 1177 Sixth Avenue. In February, Uber inked a 35,000-square-foot lease at ESRT’s tower. ESRT bought the ground lease on the tower for $310 million in 2014.