Brand New Office Space Sublease in the most Iconic Building in New York City
One of the world’s most renowned skyscrapers, 350 Fifth Avenue (better known as The Empire State Building), recently underwent a roughly $500 million renovation. Virtually every inch of the asset has received or is nearing completion of updates as a part of Empire State Realty Trust‘s plan to completely transform the iconic skyscraper. Approximately 6,500 windows were replaced to be energy efficient and block heat, a brand new, tenant-only, modern gym was constructed, and additionally, all elevators were upgraded to destination dispatch- which are significantly more efficient than traditional lift systems. Since the renovations commenced, ownership has signed leases with many notable tenants including Shutterstock, LinkedIn, and COTY, in an effort to change the perception of the building and attract more modern users. About 6 months ago, Robbie Kaplan’s law firm, Kaplan & Company, leased a portion of the 71st floor. Since then, they have experienced rapid growth and have just put their incredible space on the market for sublease (which could also be incredible furnished hedge fund office space due to its primarily open layout).
Kaplan & Company’s space was recently constructed with two conference rooms directly off the reception area, 3 internal offices, a perimeter office, a partner-sized office, a meeting room, a pantry and open area for about 20 employees. The workspace boasts loft-like finishes and features concrete floors, extra-high 17′ exposed ceilings, industrial brick walls, and glass-fronted offices. Measuring 6,091 rentable square feet, the unit is available for possession immediately. Additionally, the sublease term extends through August of 2022- allowing for a relatively short and flexible term (perfect for start-up hedge funds and boutique office space users). Lastly, the premises has a direct elevator presence, which is unique for such a large floorplate. This opportunity comes furnished, wired and ready for an incoming subtenant’s occupancy.