Episode
Empire State Sells Garment District Tower | Real Estate News
- Published
- Jul 24, 2026
- Duration seconds
- 102
- Processing state
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- https://sources.thednn.ai/74b4eee295813604
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Summary
Empire State Realty Trust is selling its 22-story, 486K SF Garment District office tower at 1359 Broadway—priced at $225M with zero debt, making it a juicy deal. This move fits into their broader pivot from pure office to apartments and retail, as seen in recent big moves: buying Midtown land for $110M, selling a 54-story West 57th Street tower for $280M, and snapping up the Scholastic Building in Soho for $386M. The building’s nearly 100% leased, with tenants like SLCE Architects and Wolfgang’s Steakhouse, adding instant cash flow. Led by Newmark’s Adam Spies and Josh King, this isn’t just another sale—it’s a strategic reshuffle in NYC’s ever-evolving real estate scene. Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN: [email protected] This is an automated, high-level news summary based on public reporting. Report issues to [email protected]. View sources & latest updates: https://sources.thednn.ai/74b4eee295813604