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ESRTBullishIndustry Newsnews

High materiality9/10

ESRT achieves 100% leasing at two NYC assets

Jul 20, 2026, 5:23 PM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Full occupancy on key assets reduces rollover risk, supports rent visibility, and may lift NAV. Presence of new tech/biotech tenants reinforces quality tenant mix; limited remaining 2026 space provides near-term leasing catalysts.

AI summary

What happened, with direct paths to the underlying reporting

Empire State Realty Trust announced 111 W. 33rd Street and 1350 Broadway are now fully leased after Instacart and Hansa Biopharma leases. The deals, alongside remaining 2026 space at One Grand Central Place and 501 7th Ave, underscore NYC demand for modern, amenitized offices and could support rent stability and NAV.

111 W. 33rd St and 1350 Broadway now 100% leased.
Instacart signs 26,134 SF at 111 W. 33rd; Hansa Biopharma adds 7,052 SF.
Two blocks remain for 2026: One Grand Central Place and 501 7th Ave.
Portfolio: ~8.0M sf office, ~0.8M sf retail, 743 residential units.

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ESRT achieves 100% leasing at two NYC assets

UTA signs large Empire State Building lease, reinforcing ESRT occupancy strength