Market Overview

Empire State Realty Trust Welcomes Concord Music Group, Inc. to 250 West 57th Street


NEW YORK, Jan. 22, 2020 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE:ESRT) announced today that Concord Music Group, Inc., the independent, worldwide leader in the development, management, and acquisition of sound recordings, music publishing, and theatrical performance rights signed a long-term lease for 46,329 sq. ft. at 250 West 57th Street.

"We are delighted to welcome Concord Music Group, Inc. to 250 West 57th Street," said Thomas P. Durels, ESRT's Executive Vice President, Real Estate. "250 West 57th Street is a fully modernized office building with convenient in-building access to the Columbus Circle subway station and Turnstyle Underground Market – a full city block featuring 39 unique eateries and shops."

ASCAP, RZO, and Distinguished Concerts International are also located at 250 West 57th Street, where several other spaces are available for potential tenants. These spaces include a 26,000 sq. ft. full-floor, and two tower floors with a view of Central Park, including a 12,611 sq. ft. full floor prebuilt and the 9,476 sq. ft. penthouse on the 26th floor.

Paul Haskin of CBRE, Inc. represented Concord Music Group, Inc. in the lease negotiations. Landlord representation was provided by Keith Cody and Leslie Nadel of ESRT, along with Cushman & Wakefield's Rob Lowe, Harry F. Blair, Sean N. Kearns, Paige Engeldrum, and Dan Organ.

About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE:ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the "World's Most Famous Building." Headquartered in New York, New York, the Company's office and retail portfolio covers 10.1 million rentable square feet, as of  September 30, 2019, consisting of 9.4 million rentable square feet in 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York; and approximately 700,000 rentable square feet in the retail portfolio.

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Federal securities laws. You can identify these statements by use of the words "assumes," "believes," "estimates," "expects," "intends," "plans," "projects" and similar expressions that do not relate to historical matters. You should exercise caution in relying on forward-looking statements, because they involve risks, uncertainties and other factors which are, in some cases, beyond ESRT's control and could materially affect actual results.  Such factors and risks include, without limitation, a failure of conditions or performance regarding any event or transaction described above, regulatory changes, and other risks and uncertainties described from time to time in ESRT's filings with the SEC.  Except as may be required by law, ESRT does not undertake a duty to update any forward-looking statement.

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SOURCE Empire State Realty Trust, Inc.

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