Empire State Realty Trust (ESRT) signed more than 28,600 square feet of leases at the Empire State Building in the third quarter of this year.

In the largest deal, architecture firm Corgan signed a 12.4-year, 15,157-square-foot lease in the building in an expansion from its current 26,035 square feet, giving it a total footprint of 41,192 square feet at the landmarked office building, according to ESRT’s third-quarter earnings report.

Meanwhile, supply chain finance firm Zenyth Advisors agreed to a new 11-year, 13,459-square-foot lease, according to the landlord.

ESRT did not immediately disclose the updated asking rents at the building, but asking rents were $96 per square foot as recently as July.

Corgan’s expansion follows a series of renovations to its space on the 54th floor, which has helped the firm consolidate teams from other offices, Commercial Observer reported at the time.

ESRT did not respond to a request for comment and it’s unclear who brokered the two deals.

Other recent arrivals to the Empire State Building include Los Angeles-based United Talent Agency, which leased 100,948 square feet in July, as well as law firm Elsberg Baker & Maruri, which signed a 39,237-square-foot lease in July 2025.

The real estate investment trust announced the deals Tuesday during its third-quarter earnings call with investors, in which it reported strong office sales and leasing.

Mark Hallum can be reached at mhallum@commercialobserver.com.


Discover more from Home Loans Network | HELOC, Mortgage & Real Estate Investor Financing By the Real Estate Deal Room |PH: 312-392-0664

Subscribe to get the latest posts sent to your email.

Leave a Reply

Ebonie Beaco

Real Estate Financing Strategies for Homeowners & Investors

Stay informed with expert insights on HELOC loans, cash-out refinancing, DSCR investor loans, fix and flip financing, and real estate investment strategies.

Mamdani Secures Appeals Court Win in Pied-à-Terre Tax Rollout

Mayor Zohran Mamdani can move forward with his pied-à-terre tax rollout after a state appellate court Wednesday reversed a lower court’s ruling that the tax’s debut was mishandled. A Staten Island judge ruled in September that the surcharge on luxury second homes in the city unlawfully burdened homeowners with having to prove their residency status,…

Keep reading

Democrats’ Housing Ideas Take Center Stage After Election Rout

After a decade of Trump-dominiated politics, Republicans suffered a generational wipeout on Tuesday after rising costs compelled Americans to vote them out of power. By early Wednesday morning, Democrats achieved the unthinkable, flipping seats in deep-red parts of the South, the Midwest and the Great Plains to seize both houses of Congress. As of 2…

Keep reading

Commercial Real Estate Distress Heading for Moment of Truth

Commercial Observer’s annual fall National Finance Forum held the morning of Election Day had the feel of a calm before the storm. Some of commercial real estate’s biggest players spoke at the semiannual event, held at Quorum by Convene at 1221 Avenue of the Americas, stressed that while the near future should present plenty of…

Keep reading

Mortgage Rates Fall Back Under 7.25%

30yr fixed rates moved over 7.25% on September 23rd, 2026 and continued to long-term highs of 7.61% by early October. But starting in mid October, rates began declining as the market grew increasingly concerned about the tech sector. Until today 7.27% marked the floor of the present rally. Now the floor is lower. Rates began…

Keep reading

Wells Fargo Supplies $133M Refi for Miami-Dade Industrial Campus

LBA Realty has secured refinancing for an industrial campus near the edge of Miami-Dade County, property records show.  Wells Fargo provided the $133 million financing backing the 37-acre Dolphin Commerce Center. The bank increased by $83 million a 2022 loan with $50 million of outstanding debt, according to mortgage documents.  The 709,480-square-foot property features five…

Keep reading

Apparel Brand American Giant Leases Brooklyn Store at 83-85 Metropolitan Avenue

San Francisco-based apparel brand American Giant has arrived in Brooklyn.  The manufacturer of sportswear and casual clothing made exclusively in the United States has signed a lease for 3,400 square feet at 83-85 Metropolitan Avenue in North Williamsburg, where it will open its first Brooklyn store, according to a source familiar with the deal.  The…

Keep reading

ESRT Posts Strong Q3 Office Activity, but Empire State Building Visits Remain Low

Empire State Realty Trust (ESRT) had a successful third quarter when it comes to office sales and leasing, but that didn’t do much to offset plummeting visitation numbers at the trust’s eponymous Empire State Building. ESRT signed 189,477 square feet of leases during the third quarter of 2026, including 170,608 square feet of office leases,…

Keep reading

Mortgage Rates Move Slightly Higher After Stronger Econ Data

Well… they can’t all be winners. It seems as if rates could do no wrong over the past 3 days with each marking the lowest level in more than a month for the average top tier 30yr fixed rate. Today wasn’t a winner, but it wasn’t exactly bad. Apart from the past 3 days, today…

Keep reading

Goodman Capital Leads $44M Condo Inventory Loan on Long Island City Project

New Empire Group has landed $43.7 million of condominium inventory financing for a newly built luxury housing development in Long Island City, Queens, Commercial Observer has learned. Goodman Capital provided a $39.5 million senior loan secured by for the developer’s unsold condos at its 117-unit Radiant project on 24-01 Queens Plaza North that was completed…

Keep reading

Prime Finance Provides $57M Refi for East Village Multifamily Complex

A joint venture between 109Co and Meadow Partners has secured $56.7 million to refinance a two-building multifamily apartment complex in Manhattan’s East Village, Commercial Observer can first report.  Prime Finance provided the debt, while a Walker & Dunlop team of Dustin Stolly, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer, Michael Ianno and…

Keep reading

Atla Lands Lands $140M to Build Rental Tower in Fort Lauderdale

Alta Developers nabbed a $140.2 million construction loan for a luxury rental skyscraper in Fort Lauderdale, Fla.  JVP Management, serving as an administrative agent, assumed a loan with $10.4 million of outstanding debt and increased it by $129.8 million, according to mortgage documents.  The development, called Alta New River, will feature 400 apartments and a…

Keep reading

Mortgage Rates Hold Steady at Recent Lows

It was a perfectly fine day for mortgage rates to start the new week. The underlying bond market improved modestly, drawing on a combination of sharply lower oil prices and another drop in tech-related stocks. While it’s true that oil prices haven’t had a reliable impact on bonds/rates over the past month, today’s drop was…

Keep reading

Northwind Provides $231M Construction Loan to Convert 675 Third Avenue

David Werner Real Estate and Nathan Berman’s MetroLoft have secured $231 million in construction financing to convert an office at 675 Third Avenue into a 450-unit residential multifamily in Midtown Manhattan, Commercial Observer can first report.  Ran Eliasaf’s Northwind Group provided the construction debt, which will refinance existing acquisition debt on the asset and fund…

Keep reading

Sunday Summary: Sweet and Loudoun

It’s extremely possible that if Republicans fall in the Senate this week, the sleeper issue with voters will have been data centers. Like anything in politics, defeat is rarely about a single issue. Open questions like Iran and tariffs and stubbornly high interest rates will all have their fingerprints on the electoral outcome. Still, the…

Keep reading

Gencom-Led JV Buys InterContinental in Downtown Miami for $300M

Gencom and White Bridge Capital bought the waterfront InterContinental Miami hotel, paying about $300 million, Bloomberg reported.  The 34-story property features 652 rooms at 100 Chopin Plaza, facing Biscayne Bay, right off of Biscayne Boulevard, sitting just south of the Brickell district. The 465,000-square-foot building was constructed in 1983, and it houses about 90,000 square…

Keep reading

Weil, Gotshal’s Collapse Is Perfectly Timed for Manhattan’s Office Market

White-shoe law firm Weil, Gotshal & Manges, which was founded in 1931 and announced its intent to wind down operations this week, currently occupies around 447,000 square feet over 11 floors at BXP’s General Motors Building at 767 Fifth Avenue. BXP owns 60 percent of the 50-story building, which it purchased in 2008 in a…

Keep reading

Irvine Company Secures $157M Multifamily Refi in L.A.’s Playa Vista

Irvine Company has secured a $157.2 million refinancing loan from Capital One for a 309-unit luxury apartment property in Los Angeles’ Playa Vista neighborhood. The new Fannie Mae loan replaces a previous $136 million loan originated by PGIM, representing a roughly $21 million increase in financing, according to Yardi Matrix data cited by Multihousing News.…

Keep reading

Mortgage Rates End Week at Lows

The rate market continues taking cues from turmoil in the tech sector. That resulted in the lowest rates in more than a month today as tech stocks slide to their lowest levels since July.  The biggest shift for the underlying bond market (bonds dictate rates) came just before 1pm on reports that Anthropic’s post IPO…

Keep reading

Grassroots Analytics Doubles D.C. Footprint With 25K-SF Office Lease

Grassroots Analytics has signed a 24,692-square-foot office lease spanning three floors at Arch Square in Downtown Washington, D.C. The company will more than double its footprint in the city as it relocates to 803 Seventh Street NW, a mixed-use property owned by Swiss real estate investment foundation AFIAA. The transaction brings the building’s office component…

Keep reading

Lightstone Capital Provides $29.5M Loan for Orange, N.J., Multifamily Development

Orange, N.J.-based PEEK Capital, a division of multifamily developer and operator PEEK Properties, has secured a $29.5 million bridge loan on its recently completed multifamily project in Orange known as the Lincoln, Commercial Observer has learned. The bridge loan was provided by Lightstone Group’s real estate debt platform, Lightstone Capital. Daniel Cohen of Ackman-Ziff advised…

Keep reading

Rates Dip to New Multi-Week Lows

After 4 rather uneventful trading days, the bond market (which underlies interest rate movement) experienced a bit more volatility today. Fortunately, it was volatility in a friendly direction. 10yr Treasury yields ended the day at their lowest level since September 22nd. Mortgage rates dropped to their lowest mark since September 23rd for the average lender. …

Keep reading

AJ Capital Partners Lands $52M Refi for Princeton, N.J., Hotel

AJ Capital Partners secured a round of financing for one of its hospitality properties in New Jersey, Commercial Observer has learned. GreenOak (formerly BGO) originated a $52 million loan for the 180-room hotel in Princeton, N.J., known as the Graduate by Hilton Princeton, according to sources familiar with the deal. The hotel property at 10…

Keep reading

Financial Tech Platform Intuit Takes 4K SF at the Orchard in LIC

The Orchard, Queens’ tallest residential tower, has signed several new retail leases totaling 7,468 square feet, building owner and developer BLDG Management announced Thursday.  In September, financial services platform Intuit, the company behind programs including TurboTax, QuickBooks, Credit Karma and Mailchimp, signed a 3,546-square-foot lease at the 70-story property at 42-06 Orchard Street in Queens’…

Keep reading

Miami Gardens Leases Public Land for Proposed Hotel

The city of Miami Gardens, Fla., this week approved a land lease that sets up the development of a 127-room hotel on city-owned land near Hard Rock Stadium. The proposal calls for a 127-room hotel, the Beckham Hotel Miami Gardens, and a parking garage on part of a 3.5-acre parcel. The hotel – no brand…

Keep reading

Fortune Lands Record $817M From Tyko Capital to Build Miami Faena Condo Towers

Adi Chugh’s Tyko Capital doled out Florida’s largest-ever construction loan: $817 million for the Faena-branded, waterfront condo development in Miami, the project’s sponsors announced Wednesday. Fortune International Group and Kar Properties are developing the two-tower project at 24 Southwest Fourth Street, facing the Miami River, across from Brickell City Centre. Both skyscrapers will rise 68…

Keep reading

Leasehold at 71 Fifth Avenue Sells to Namdar Realty Group for $62M

Igal Namdar’s Namdar Realty Group has purchased the leasehold at 71 Fifth Avenue for $62 million.  The deal covers the entirety of the 11-story building at the corner of Fifth Avenue and East 15th Street. Its Class B office and retail spaces sit at the intersection of Manhattan’s Flatiron and Union Square submarkets.  The seller,…

Keep reading

Podcast: How Yardi Is Becoming a System of Intelligence, with CEO Rob Teel

Rob Teel is the CEO of Yardi, the property management and real estate investment software company founded in 1984 whose platform serves owners and operators of commercial and residential space worldwide. He joined Yardi in 2003 and spent more than two decades leading its Global Solutions business, overseeing product direction, services, and client relationships across investment…

Keep reading

Mortgage Rates Move Modestly Higher

Today’s Fed announcement had no impact on mortgage rate movement, and minimal impact on intraday bond market volatility. Well before the Fed announcement, the bond market was already slightly weaker compared to yesterday’s latest levels. As a result the average mortgage lender set rates just a hair higher. Despite the increase, 30yr fixed rates are…

Keep reading

Children’s Rescue Fund Adds 9K SF at the Bronx’s 521 Bergen Avenue

Nonprofit housing and supportive family services provider Children’s Rescue Fund has upped its footprint at 521 Bergen Avenue. The charity’s executive offices expanded by 8,648 square feet on the South Bronx office property’s second floor in early October, according to an announcement by landlord brokerage JLL. The deal gives Children’s Rescue Fund a total footprint…

Keep reading

Something went wrong. Please refresh the page and/or try again.

Discover more from Home Loans Network | HELOC, Mortgage & Real Estate Investor Financing By the Real Estate Deal Room |PH: 312-392-0664

Subscribe now to keep reading and get access to the full archive.

Continue reading