LinkedIn’s continued and increasing presence at the Empire State Building could have repercussions for technology and media industry tenants that are looking for space throughout the Midtown and Midtown South submarkets.
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As Malkin Holdings moves forward with its plan to convert ownership in the Empire State Building into a publicly traded REIT, the image licensing company Shutterstock has signed an 80,000-square-foot lease across two entire floors at the iconic tower.
Pending a final hearing on May 2, a New York County Supreme Court judge has given his preliminary approval for Malkin Holdings’ plan to convert ownership in the Empire State Building (and 18 other properties) into a publicly traded real estate investment trust.
Malkin Holdings could soon capitalize on investors’ appetite for a slice of New York City commercial real estate after recently announcing plans for a publicly traded REIT called Empire Realty Trust.