NEW YORK CITY, February 16, 2016 – Empire State Realty Trust, Inc. (NYSE:ESRT) announces Bank of America will call Billionaire’s Row home. The newest branch will be a 4,432 square foot retail space at 250 West 57th Street.
Directly opposite 250 West 57th Street is Nordstrom’s new flagship store, scheduled to open in 2018. Other retailers at ESRT’s property include Starbucks, AT&T, HSBC, T.J. Maxx and Duane Reade.
“We now have a concentration of quality retailers on West 57th Street,” said Thomas P. Durels, Executive Vice President and Director of Leasing and Operations for ESRT. “Which is not surprising, when you consider our location on Billionaire’s Row, and proximity to One 57, Time Warner Center, Carnegie Hall and direct underground access to the new TurnStyle’s 24 shops and 10 restaurants opening in spring 2016 that will serve 22 million pedestrians.”
David LaPierre of CBRE represented Bank of America in the lease negotiations. Landlord representation was provided by Fred C. Posniak and Shanae Ursini of ESRT, along with Joanne Podell and Ian Lerner of Cushman & Wakefield.
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world’s most famous building. Headquartered in New York, New York, the Company’s office and retail portfolio covers 10.1 million rentable square feet, as of September 30, 2015, consisting of 9.4 million rentable square feet in 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut and two in Westchester County, New York; and approximately 720,000 rentable square feet in the retail portfolio.
*Please note all lease square footages are approximate.
Forward-Looking Statements
This press release includes “forward looking statements.” Forward-looking statements may be identified by the use of words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates,” “contemplates,” “aims,” “continues,” “would” or “anticipates” or the negative of these words and phrases or similar words or phrases. The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: the factors included in (i) the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, including those set forth under the headings “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Business,” and “Properties” and (ii) in future periodic reports filed by the Company under the Securities and Exchange Act of 1934, as amended. While forward-looking statements reflect the Company’s good faith beliefs, they are not guarantees of future performance. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. For a further discussion of these and other factors that could impact the Company’s future results, performance or transactions, see the section entitled “Risk Factors” in the Annual Report on Form 10-K for the year ended December 31, 2014, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Prospective investors should not place undue reliance on any forward-looking statements, which are based only on information currently available to the Company (or to third parties making the forward-looking statements).
