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Empire State Building attracts two leading financial firms.
Real Estate Weekly
March 12, 2008
The Empire State Building has landed two more prestigious financial firms, Funaro & Co. and Goldin Associates, LLC, announced Stephen Eynon of CB Richard Ellis, director of leasing for the property.
Funaro & Co., which is relocating from One Penn Plaza, leased the entire 41st floor of 20,008 s/f. Michael Burgio of Cushman & Wakefield represented the firm in the lease negotiations.
Goldin Associates, represented by Charles Borrok and Philip Weiss of Cushman & Wakefield, leased 10,577 ss/f on the 18th floor. The firm is currently based at 400 Madison Avenue.
"These signings further highlight the steady interest in the property among high-caliber tenants within the financial sector," noted Eynon.
"The response from the real estate and business communities in general to the $500 million capital improvement program has been overwhelming. Furthermore, in addition to securing these two prominent companies, we are further gratified that both transactions were a by-product of our successful and ongoing space consolidation plan."
Founded in 1947, Funaro & Co. has offices in New York City and Milan. The firm provides a wide range of services, including accounting and auditing, tax reporting and compliance, tax advisory, management consulting, and transaction advisory.
Goldin Associates, a financial advisory and turnaround consulting firm, was founded in 1990 by Harrison J. Goldin, the former comptroller of The City of New York. The firm specializes in underperforming businesses and distressed situations, including financial and operational restructurings, crisis management and bankruptcies. The Deal, a publication that covers the financial industry, consistently designates Goldin as one of the industry's leading advisory firms.
Soaring 1,454 feet above Midtown Manhattan, the Empire State Building is the World's Most Famous Office Building. With new investments in infrastructure, public areas and amenities, the Empire State Building has attracted first-rate tenants in a diverse array of industries from around the world.
Improvements--planned and completed--total more than $500 million and include a strategic upgrading of the ground floor retail mix and a comprehensive restoration of the Empire State Building's art deco lobby and ceiling. A new messenger center, modernization of the building's systems, new restrooms, air-conditioned public corridors, and new, improved multi-layered security systems comprise some of the building's contemporary amenities.
All 65 marble elevator cabs have been refurbished and the building's 6,500 windows have been replaced, making the Empire State Building far more energy efficient and earning it a coveted "Energy Star" designation.
The Empire State Building is part of the W&H Properties portfolio. Broker commissions are paid in full at lease signing.