---
title: "ESRT Putting 1359 Broadway Up for Sale, Seeking $225M"
url: https://burnaze.com/article/6284b2f0-b802-41d3-a704-45403a6b3163
source: "Commercial Observer"
original_url: https://commercialobserver.com/2026/07/esrt-1359-broadway/
category: "Real Estate"
published: 2026-07-23T15:30:50.000Z
modified: 2026-10-31T13:16:13.916Z
image: https://commercialobserver.com/wp-content/uploads/sites/3/2026/07/Anthony-Malkin-1359-Broadway-credit-ESRT.jpg?quality=80&resize=1200%2C630&strip=
---

# ESRT Putting 1359 Broadway Up for Sale, Seeking $225M

**TL;DR:** Empire State Realty Trust is selling its mixed-use building at 1359 Broadway, expected to fetch around $225 million. The building is 95% leased to a diverse mix of tenants, including SLCE Architects and Braven.

*originally published in Commercial Observer on 2026-07-23. [Read the original](https://commercialobserver.com/2026/07/esrt-1359-broadway/).*

## Story

**Empire State Realty Trus**t is parting ways with its mixed-use building at **1359 Broadway** and marketing it for sale**,** sources familiar with the move told Commercial Observer.

The property is expected to fetch around $225 million, with the winning buyer owning the fee simple interest in the 486,000-square-foot, 22-story office and retail property at the corner of Broadway and 36th Street two blocks north of Herald Square.

The building is a short walk from both **Penn Station** and **Grand Central Terminal** and roughly 95 percent leased to a diverse mix of tenants today, with plenty of leasing momentum. Only a few days ago, manufacturer Infinium Wall Systems signed a lease for 30,017 square feet at the property, and the second quarter of 2025, ESRT signed 38,000 square feet of leases between **SLCE Architects** and nonprofit **Braven**.

As for the retail component, it’s anchored by **Wolfgang’s Steakhouse** and also includes Japanese restaurant **Wokuni**.

**Newmark**’s **Adam Spies**, **Josh King**, **Adam Doneger**, **Avery Silverstein**, **Marcela Fasulo** and **Doug Harmon** are leading the sale, sources said, and no debt currently encumbers the property.

The sale of 1359 Broadway follows lots of portfolio comings and goings for ESRT. Last month the real estate investment trust (REIT) closed on the $114 million acquisition of the land beneath **111 West 33rd Street** and **1400 Broadway**. Two months earlier, in April, it went under contract to sell its 26-story office building at **250 West 57th Street** to **Namdar Realty Group** for roughly $280 million.

Last, but certainly not least, in December the REIT made headlines when it bought **Scholastic**’s building at **555-557 Broadway** in SoHo for $386 million. The same Newmark team arranged both the 250 West 57th Street and Scholastic building deals.

Sources familiar with the moves said ESRT is in the process of upgrading its portfolio and recycling capital in the process.

## Entities

- Real Estate (sector)
- Commercial Observer (publication)
- real estate investment (topic)
- Newmark (company)
- portfolio management (topic)
- Penn Station (location)
- property sale (topic)
- Adam Doneger (person)
- Adam Spies (person)
- Avery Silverstein (person)
- Doug Harmon (person)
- Empire State Realty Trust (company)

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Originally reported by Commercial Observer (https://commercialobserver.com/2026/07/esrt-1359-broadway/). Summarized by Burnaze (https://burnaze.com/article/6284b2f0-b802-41d3-a704-45403a6b3163).