Empire State Realty Trust Announces Acquisition of the Scholastic Building

Core Viewpoint - Empire State Realty Trust, Inc. has agreed to acquire the Scholastic Building located at 555-557 Broadway for $386 million, indicating a strategic investment in a prime Manhattan location [1] Company Summary - The acquisition involves a property in the SoHo submarket of Manhattan, situated between Spring and Prince Streets, with entrances on Mercer Street and Broadway [1] - The property encompasses approximately 368,000 square feet of office space and 28,000 square feet of prime retail space [1] - Currently, the property is 70% leased, which includes a significant 15-year office lease [1]