1 Penn Plaza | The Real Deal New York

The Real Deal New York

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1 Penn Plaza

1 Penn Plaza
New York, NY 10001
Office, Retail, Leasing/Rental, Ground Lease

The tallest building in the Penn Plaza complex, this 2.66-million-square-foot skyscraper occupies the entire block between 33rd and 34th Streets and between 7th and 8th Avenues. Built in 1972, with a lobby renovation in 1995, the building anchors the Penn Plaza development. Vornado Realty Trust bought the 57-story building in 1997 for $420 million from Leona Helmsley and her partners as she dismantled her real estate empire.

Tenants include tech firms such as Cisco Systems and Symantec; Wachovia Securities; United Healthcare and the U.S. Customs Service. Vornado owns a total of about 9 million square feet of commercial property in the Penn Plaza District, including Two Penn Plaza and 11 Penn Plaza.

-NE

  • block and lot 1-00783-0070
  • BIN 1014387

03/12/19
OFFICE LEASING IN MANHATTAN Midtown office leasing fell by nearly half in January after spiking in December and totaled 1.59 million square feet, up slightly...

OFFICE LEASING IN MANHATTAN Midtown office leasing fell by nearly half in January after spiking in December and totaled 1.59 million square feet, up slightly...

02/27/19
After losing out on a prime space at One World Trade Center last year, WeWork has finally inked a massive lease deal in the Financial...

02/08/19
Servcorp, an Australia-based flexible office space firm, has locked in a management agreement at 667 Madison Avenue, the first such arrangement for a company that...

02/01/19
No particular sector dominated office leases last month, with large deals being inked by tenants from hedge funds to fertility clinics to mattress startups. All...

01/24/19
Knotel, the flexible office startup that aims to rival WeWork, is nearing a deal to lease the iconic Flatiron building. Amol Sarva’s company is preparing...

01/18/19
Knotel, the flexible office space firm and WeWork arch-rival, has signed another four New York leases, joining the co-working space race of 2019. The firm,...

01/17/19
Industrious, the New York-based co-working firm, is expanding its footprint in the city in a move the company has been reluctant to make until now....

01/16/19
Spaces, another co-working company that is increasingly gobbling up New York office space, has signed a big lease deal at 31 Penn Plaza. The firm,...

10/30/18
WeWork is continuing its push for mid-sized tenants, signing two leases in Chelsea and SoHo for its HQ by WeWork segment. The co-working firm is...

10/18/18
WeWork has signed yet another lease in Manhattan, this time for about 57,000 square feet at Zar Group’s 1450 Broadway, right by Times Square. The co-working...

10/08/18
WeWork just signed one of its largest lease deals this year, taking 117,000 square feet at 575 Lexington Avenue in Midtown. The co-working firm’s new...

10/02/18
Demand for Manhattan office space is on track to set a new record for leasing activity in the past 15-plus years. Through the first nine...

Manhattan’s retail vacancies further pile up A recent survey from Douglas Elliman painted a really grim picture for Manhattan retail. It found that 20 percent...

• Midtown office leasing fell in August compared to the prior month, totaling 1.17 million square feet. That was 18 percent below the five-year monthly...

09/20/18
Spaces, the co-working firm owned by Regus parent company IWG, just signed another big lease in Manhattan. The company is taking 99,000 square feet at...

09/18/18
The New York Attorney General’s office has reached a settlement with WeWork over non-compete agreements which the company had required almost all its employees to...

09/18/18
WeWork is now the largest office tenant in Manhattan. The co-working firm said it now has a portfolio totaling 5.3 million square feet, putting it...

09/11/18
UPDATE: An earlier version of this article omitted some of the brokers involved in deal #6 at 1619 Broadway. August’s top office leases secured less...

09/05/18
WeWork isn’t coming to the World Trade Center after all. The co-working company’s bid to lease up to 12 floors at One World Trade Center...

08/24/18
WeWork is just one lease away from becoming Manhattan’s largest office tenant. The Adam Neumann-led co-working company would need to lease another office spanning 74,000 square...

08/16/18
WeWork has closed a lease transaction at the Brill Building in Midtown, finalizing a deal that has been on and off for the past two...

08/15/18
WeWork just signed one of the largest co-working lease deals in Manhattan so far this year. The firm inked a 258,344-square-foot lease at TH Real...

04/12/18
Westbrook Partners landed a $280 million loan to refinance the Ritz-Carlton at 50 Central Park South, ahead of a planned renovation next year. Delaware Life...

01/24/18
Vanbarton Group landed a $168.4 million loan from Morgan Stanley for its office building at 132 West 31st Street in Midtown. The 18-story building, also...
  • Event Office Leasing
  • Address One Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 14,635
notes
The full service strategic distribution company signed a lease.
  • Event Office Leasing
  • Address 242 West 34th Street
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 19,944
notes
The technology provider signed a lease.
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 12,691
notes
The financial company signed an 11-year lease on the 41st floor.
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 6,542
notes
The supply company signed a 5-year lease on the 42nd floor.
  • Event Office Leasing
  • Building Name One Penn Plaza
  • Address 250 West 34th Street
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 114,000
  • Price per foot $ 50.00
notes
The media giant signed a sublease for the entire fifth floor and part of the fourth floor
  • Event Office Leasing
  • Building Name One Penn Plaza
  • Address 250 West 34th Street
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 24,100
notes
The computer security software company signed a lease for part of the 54th floor, the New York Observer reported.
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 2,413
notes
The executive search firm signed a lease on the 21st floor.
  • Event Office Leasing
  • Building Name One Penn Plaza
  • Address 250 West 34th Street
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 14,106
notes
The IT services provider signed a long-term lease on the 28th floor.
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 13,575
notes
The asset management firm subleased space.
  • Event Office Leasing
  • Building Name One Penn Plaza
  • Address 250 West 34th Street
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 2,924
  • Publication Date 08/01/2011
  • Event Date 06/22/2011
  • Party 1 One Penn Plaza
  • Party 2 State Grid Corporation of China
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Joseph Hilton, Luke Greene
notes
The electricity provider signed a five-year lease.
  • Event Office Leasing
  • Building Name One Penn Plaza
  • Address 250 West 34th Street
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 6,523
notes
The private equity fund manager signed a seven-year lease.
  • Event Office Leasing
  • Building Name One Penn Plaza
  • Address 250 West 34th Street
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 2,800
notes
The consulting firm signed a seven-year lease on the 18th floor.
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 2,500
notes
The law firm signed a lease on the 21st floor.
  • Event Office Leasing
  • Building Name One Penn Plaza
  • Address 250 West 34th Street
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 8,841
  • Publication Date 04/01/2010
  • Event Date 02/20/2010
  • Party 1 Vornado Realty Trust
  • Party 2 Asia TV USA
  • Party 2 Brokerage UGL Equis
  • Party 2 Broker Abe Bose, Joel Weinberg
notes
The South Asian TV company signed a lease.
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 6,125
notes
The accounting firm signed a five-year lease to expand its offices on the 45th floor.
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 35,000
  • Publication Date 03/01/2009
  • Event Date 01/20/2009
  • Party 1 Vornado Realty Trust
  • Party 2 Dormitory Authority of State of New York
notes
The public construction and financing authority signed a new 12-year lease with 10 months of free rent for its 52nd-floor offices. The company had been planning a move to 4 MetroTech Center in Brooklyn prior to negotiating the lease.
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 9,000
  • Price per foot $ 62.00
notes
The Boston-based consulting and marketing firm signed a five-year expansion lease for part of the 24th floor.
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 5,152
  • Publication Date 12/01/2006
  • Event Date 10/22/2006
  • Party 2 Amper Investment Banking
  • Party 2 Brokerage Grubb & Ellis
  • Party 2 Broker Ronald Agababian
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 105,000
  • Publication Date 01/01/2006
  • Event Date 11/22/2005
  • Party 1 Vornado Realty Trust
  • Party 1 Brokerage In-house
  • Party 2 BMG Columbia House
  • Party 2 Brokerage Newmark Grubb Knight Frank
notes
Newly established music company takes space after losing out to Google at 111 Eighth Avenue.
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 6,525
notes
Communications company takes space for new headquarters.
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 5,343
  • Publication Date 10/01/2005
  • Event Date 08/22/2005
  • Party 1 Pacific American
  • Party 1 Brokerage Cushman & Wakefield
  • Party 1 Broker Chris Bellapianta
  • Party 2 First Rehabilitation Life Insurance Company of America
  • Party 2 Brokerage Adams & Company
  • Party 2 Broker Jeffrey S. Schwartz
notes
Insurance co. subleases space for first city office
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 69,000
  • Publication Date 08/01/2005
  • Event Date 06/22/2005
  • Party 1 Vornado Realty Trust
  • Party 1 Brokerage in-house
  • Party 1 Broker Daniel North
  • Party 2 United Health Group
  • Party 2 Brokerage Trammell Crow
  • Party 2 Broker Dirk Hrobsky, Chris Helgesen
notes
Healthcare insurance org. to move from 2 Penn Plaza
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 131,619
notes
Law firm renews and expands; 15-year lease
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 18,860
  • Publication Date 12/01/2004
  • Event Date 10/22/2004
  • Party 1 IBM Corporation
  • Party 1 Brokerage Grubb & Ellis
  • Party 1 Broker Jonathan Rosenblatt, David Mickool
  • Party 2 WhenU.com
  • Party 2 Brokerage Bostick Realty
notes
Six-year lease
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 27,634
notes
Seven-year lease
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