"Green the Key" to Empire State Building Landing LinkedIn Lease
LinkedIn.com, the well-known social networking site for businesses, has signed a 31,000-square-foot lease for the entire 25th floor of the Empire State Building, whose green efforts have been a hot topic here at gbNYC throughout 2011. (Note: you can join gbNYC's LinkedIn group here if you haven't done so already.)
The deal is for 7 years and asking rents for the space were in the high $40s per square foot. LinkedIn is currently subleasing space on the Empire State Building's 25th floor; the new space is more than five times larger. LinkedIn should be settled into its new digs sometime in the next two months, as it will continue using various fixtures and furniture left behind by the space's former tenant.
What's most interesting to us about this particular lease, though, is that LinkedIn's executives were "impressed with efforts by the property's management to make the building more environmentally friendly," according to Crain's. LinkedIn committed to the Empire State Building after looking space in the Hudson Square and Park Avenue South neighborhoods, which remain popular with social media and tech companies.
As you will likely recall, the Empire State Building remains in the midst of a $550 million retrofit that should also ultimately result in a Gold LEED for Existing Buildings: Operations & Maintenance rating from USGBC. (We covered Tony Malkin's decision to pursue the LEED label late last month here at gbNYC.)
"We are thrilled to have a leading social media network company at the Empire State Building," said Mr. Malkin. "I'm pinching myself. Five years ago, I never would have believed we would have had a tenant like this."
Congrats to Mr. Malkin, whose efforts to green New York City's most iconic office tower are clearly paying dividends.