Signature Bank leases three floors at 1400 Broadway/ photo: Google Maps
NEW YORK CITY—Signature Bank is moving into three floors at Empire State Realty Trust's office tower at 1400 Broadway. The property is located in the increasingly popular area of Midtown and the Garment District, between W. 38th and W. 39th streets. The New York Post first reported on the New York-based bank's lease terms. An Empire State spokesperson tells GlobeSt.com that the lease is for 15 years, confirming that the asking rent was $64 per square foot for the 35,893 square-foot sixth and seventh floors and $67 per square foot for the 19,394 square-foot 27th floor.
The spokesperson says the bank will move into the new space in the first half of 2019. It will join other tenants including Uber, the immigration law firm Fragomen, Del Rey, Bernsen & Loewy and Interpublic Group of Companies.
Thomas P. Durels, EVP, real estate for Empire State, notes that the building which was originally constructed in 1930, has been fully modernized with a newly expanded lobby. “With four full floors that we are currently marketing, 1400 is one of our most active buildings,” he says.
Commercial Observer reported that while Signature's headquarters are at 565 Fifth Ave., the commercial lender will consolidate its offices moving from 29 W. 38th St. and 1177 Avenue of the Americas to its new 1400 Broadway location.
Andrew Roos, Michael Cohen and Howard Kaplowitz of Colliers International represented Signature. Keith Cody and Leslie Nadel of Empire State along with Newmark Knight Frank's Scott Klau, Erik Harris and Neil Rubin represented the landlord.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
