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Gerson Lehrman Group, Inc. Signs 77,382 Square Foot Renewal Lease at One Grand Central Place

1. ESRT secured a renewal lease of 77,382 sq ft with GLG. 2. The lease reaffirms GLG's commitment to One Grand Central Place.

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Why Bullish?

The lease renewal signals strong demand for prime office space, boosting ESRT's rental income. Historical trends indicate that long-term leases can stabilize and increase property valuations.

How important is it?

The lease represents a significant tenant commitment, reinforcing financial stability and potentially influencing investor sentiment positively.

Why Short Term?

The immediate rental income from the lease renewal increases cash flow, positively impacting ESRT’s short-term financial outlook.

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NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it signed a 77,382 square foot renewal lease with Gerson Lehrman Group, Inc. (GLG) – a financial and global information services consulting company – at One Grand Central Place. GLG joined the ESRT portfolio in 2013 and now occupies two full floors overlooking Vanderbilt Plaza. "One Grand Central Place's unmatched location and office environment have created an ideal headquarters for GLG to convene the.

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