Key facts
- United Talent Agency (UTA) has leased 101,000 square feet in the Empire State Building.
- The lease spans four floors of the iconic New York City skyscraper.
- UTA will consolidate its current 81,000 square feet from three separate buildings into the new space.
- The Empire State Building tower was 96.1% leased as of the end of the first quarter.
United Talent Agency (UTA), a prominent Hollywood talent agency representing stars like Timothée Chalamet, Bad Bunny, and LeBron James, has signed a significant lease for 101,000 square feet across four floors of the Empire State Building.
This move will consolidate UTA's New York City operations, currently spread across 81,000 square feet in three separate buildings, into the iconic 102-story skyscraper. UTA's Chief Operating Officer, Bob Roback, stated that the relocation reflects the agency's growth and commitment to New York as a global hub for culture and business. The agency houses 10 of its departments in New York, including filmed entertainment, music, and sports.
The Empire State Building, owned by Empire State Realty Trust (ESRT), had an occupancy rate of 96.1% by the end of the first quarter, with asking rents at $96 per square foot. The lease signing follows other recent deals announced by ESRT, including a 26,000 square foot agreement with Instacart and a 30,000 square foot lease with Infinium Wall Systems.
These transactions contribute to a strong leasing market in Manhattan, which has seen nearly 23 million square feet of leases signed in the first half of the year, the best performance for office landlords since 2002. This activity has driven asking rents up by 5.7% year-over-year.