Empire State Realty Trust Announces Acquisition of the Scholastic Building

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the "Company†), announced that it has agreed to acquire 555-557 Broadway (the "Scholastic Building†) for $386 million. The property is located in the SoHo submarket of Manhattan, between Spring and Prince Streets with entrances on both Mercer Street and Broadway, and is comprised of approximately 368,000 square feet of office and 28,000 square feet of prime retail. The property is 70% leased, including a 15-year office lea. ...