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11 Penn Plaza

11 Penn Plaza
New York, NY 10001
(212) 894-7438
Website
Office, Leasing/Rental

Eleven Penn Plaza is a 23-story, 1.1-million-square-foot office building dating to 1923. Its home to tenants including the Macys department-store chain. AMC Networks, creator of television series including Mad Men, Walking Dead and Breaking Bad, said in December 2014 it would expand by 40,000 square feet, after more than 10 years in the building. The deal brought AMCs occupancy to 330,000 square feet at the property, where asking rents are in the $60s per square foot. The building occupies the eastern blockfront of 7th Avenue between 31st and 32nd Streets, across the street from Madison Square Garden.

Vornado, which owns a total of about 9 million square feet of commercial property in the Penn Plaza District, including One Penn Plaza and Two Penn Plaza, realized proceeds of $107 million from a $450 refinancing of the property in late 2013.

Vornado Executive Vice President and Director of Leasing Glen Weiss, a self-described Vornado lifer, started a summer job as a porter in the building at age 16 in 1986, working for the Mendik Company, now a Vornado subsidiary.

-NE

  • Year Built 1926
  • square feet 1,103,075
  • block and lot 1-00807-0001
  • BIN 1015175
  • Event Retail Leasing
  • Address 11 Penn Plaza
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 2,902
  • Event Retail Leasing
  • Address 11 Penn Plaza
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 40,000
notes
The cable network signed an expansion lease and will occupy a total of 330,000 square feet.
  • Event Office Leasing
  • Address 11 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 643,000
notes
The department store operator signed a lease renewal through 2035 for office space, the New York Post reported.
  • Event Office Leasing
  • Address 11 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 17,100
notes
The global application delivery and infrastructure firm inked a 10-year renewal and expansion lease for part of the 20th floor. Citrix is consolidating two New York City offices.
  • Event Office Leasing
  • Address 11 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 160,000
  • Publication Date 07/01/2006
  • Event Date 05/22/2006
  • Party 1 Vornado Realty Trust
  • Party 2 Federated Department Stores
  • Party 2 Brokerage CBRE
notes
The retail company renewed and took an additional 50,000 square feet of office space.

08/01/2014
The deal included 257,541 square feet on six separate floors at the 1.5-million-square-foot 2 Penn Plaza above Penn Station, and 60,976 square feet on the third floor at the 1-million-square-foot 11 Penn Plaza...

03/01/2013
Despite the large lease extension signed by Macy’s in Midtown’s Penn Plaza district, prices and availability in the Manhattan office market remained stagnant last month.Despite the large lease extension signed by Macy’s in Midtown’s Penn Plaza district, prices and availability in the Manhattan office market remained stagnant last month....

11/02/2007
The biggest May lease in Midtown South, Newmark reported, was Federated Department Stores' 160,000-square-foot renewal at 11 Penn Plaza; 50,000 feet of that was expansion space...

...largest office lease. AMC Network's lease at of 11 Penn Plaza for 330,000 square feet was the seconded largest lease in the area. As demand for...