Empire State Development moving one block north in Manhattan, closer to Grand Central, occupying easier-to-access lower floors.

It's hardly huge news, but for those attending meetings of Empire State Development (ESD), the state authority that oversees/shepherds Atlantic Yards/Pacific Park, there will be a new location, one block north and thus closer to Grand Central Terminal, by June or July 2024. 

It also should be faster for visitors and staff to access. (This also applies to visitors attending meetings of the advisory Atlantic Yards Community Development Corporation, at least if it continues to meet at ESD headquarters in Manhattan rather than again finds space in Brooklyn.)

A spate of headlines, starting with the New York Post's 8/6/23 Durst Organization scores new Empire State Development HQ at 655 Third Ave, announced the news, apparently sparked by the landlord:

In another boost for the Durst Organization’s Third Avenue portfolio, the Empire State Development Corp. is moving its headquarters to 655 Third Ave. The just-signed lease for 117,181 square feet might be Midtown’s largest new lease so far this year.

ESDC will fill five full floors in the 30-story, 425,000 square-foot tower. The space was previously home to Mitsubishi, which moved to Durst’s 151 W. 42nd St., the former Four Times Square. The asking rent was $69 per square foot.

The powerful state agency is leaving 633 Third Ave. where it has about the same amount of space.

The new location, 655 Third Avenue, is between 41st and 42nd Street, while the current location, 633 Third Avenue, is one block south. (Also see coverage in the Commercial Observer.)

ESD announcement

Unmentioned in the coverage is that, while ESD's current loction requires an elevator trip to the 37th Floor conference room for those attending and observing meetings, the future office will be easier to access, as ESD will occupy floors 2 through 6. 

The news emerged at the 5/22/23 meeting of the ESD Board. 

According to the minutes, shared at the ESD Board's 7/20/23 meeting, Senior Counsel Douglas Janese noted that ESD would occupy Floors 2 through 6 and that the lease was expected to commence in Spring 2024. following the substantial completion of the construction work by the landlord. 

That means ESD’s current lease with Time Equities, which was to expire this past June, was extended for about one year.