MSG Sports & Entertainment has signed a 10,500-square-foot lease at 111 W. 33rd St. for a prebuilt unit that comprises the entire 24th floor.
Neil Goldmacher and Andrew Sachs of Newmark Knight Frank represented the Madison Square Garden-owned entity in the transaction. The ownership, Empire State Realty Trust, was handled in-house by Keith Cody along with another Newmark team of Scott Klau, Erik Harris and Neil Rubin.
The asking rent for the seven-year term was $69 per square foot, and the tenant has other options within the building, which acts as ESRT’s own headquarters. A new lobby designed by Studios Architecture goes through mid-block to the building’s other address of 112 W. 34th St., where Target has just opened.
Along with Madison Square Garden itself, MSG owns and operates sports teams including the Knicks and Rangers and venues that include Radio City Music Hall and the Beacon Theater. The Sports & Entertainment division was spun off from its media operations in 2015 and has been located at Two Penn Plaza.
