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Empire State Building sees increase in leasing, tourism.


The Empire State Building announced increases in both tourism and leasing activity this year over the previous year. From January thru September 2002, the total number of ticket sales to the 86th Floor Observatory was nearly 12% higher than the same period in 2001. Additionally, a greater total number of renewal and new leases have been signed for space at the Empire State Building during January thru September of this year, versus the same period last year.

The strong business levels at the Empire State Building buck a nationwide trend of diminished tourism and leasing activity due to a down-turned economy and aftermath of the Sept. 11 attacks. The Empire State Building remains one of the most prestigious addresses and leading tourist attractions Noun 1. tourist attraction - a characteristic that attracts tourists
attractive feature, magnet, attractor, attracter, attraction - a characteristic that provides pleasure and attracts; "flowers are an attractor for bees"
 in the world.

A total of 35 lease renewals for 61,000 SF have been signed since January 2002, compared with 31 renewals and 39,700 SF during this period last year. A total of 57 new leases were signed from January thru September in both 2002 and 2001, though the aggregate square footage was less in 2002 by 8,000 SF (92,000 SF versus 100,000 SF). This can be attributed to the fact that, in a down-turned economy, many companies are seeking smaller amounts of space.

More than 2.5 million tickets to the Observatory were sold between January and September 2002, an increase of nearly 300,000 tickets from the same period in 2001. Included in this increase is a particular rise in the number of visitors from the New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 tri-state area There are a number of places in the United States known as tri-state areas where three states or holdings meet at one point (a tripoint), or in proximity to each other. The two most well-known are for the New York and Chicago metropolitan areas. . The building estimates that 80% of its visitors this year have been from within the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , with approximately 75% of those from New York, New Jersey and Connecticut.

The tenants who occupy the first 80 stories of the Empire State Building span numerous industries, including law, travel, media, apparel and fashion accessories Fashion accessories are items apart from the garment itself, which complement the whole outfit. Fashion accessories include jewelry, gloves, handbags, hats, or scarves. , not-for-profit, communications, medicine and technology.

Above the 86th Floor, the Empire State Building mast and antenna now are home to all TV and FM stations broadcasting to Greater New York, including all that formerly transmitted from the World Trade Center.

"In a down-turned economy, when many buildings have seen occupancy drop as much as 50% and tourism has been lagging Lagging

Strategy used by a firm to stall payments, normally in response to exchange rate projections.
 nationwide, the Empire State Building is more than holding its own," said Howard J. Rubenstein, spokesman for the Empire State Building. "The building is proud of its tenants and visitors. The increased activity on both fronts is a vote of confidence in the Building and in New York City New York City: see New York, city.
New York City

City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S.
 overall."

The 102-story Empire State Building recently completed a $70 million modernization program that included new windows, upgraded computerized elevators, enhanced air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. , expanded security systems, exterior limestone restoration and new sidewalks.
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Real Estate Weekly
Geographic Code:1USA
Date:Nov 6, 2002
Words:454
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