Empire State Realty Trust Completes Retail Redevelopment Plan On 33rd Street

NEW YORK, Feb. 5, 2018 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) today announced Tacombi opened its fifth and largest taqueria in the iconic Empire State Building. Founded in 2005, Tacombi originated out of a VW bus in the Yucatan Peninsula in Mexico, and continues its journey from Mexico to New York, bringing taco culture and the warmth of Mexican hospitality to Tacombi Empire State Building.

The restaurant's interior design pays homage to the great Art Deco taqueria's of Mexico City. The newest location features an on-site Vista Hermosa tortilleria, open kitchen and wide bar, which offers an up-close view of Mexican culinary tradition. Tacombi Empire State Building is a neighborhood meeting place for friends and colleagues.

In addition to Tacombi, in late 2017, ESRT signed a new lease with Juice Press, which is expected to open by late spring 2018. 

"For the first time since the Empire State Building opened in 1931, all of the retail space will undergo an entire gut rehab," said Thomas P. Durels, Executive Vice President, Real Estate, at ESRT. "The opening of Tacombi and Juice Press completes the first phase of our redevelopment plan and 100% re-leasing of all the retail on 33^rd Street, totaling 21,052 square feet at grade and 9,234 square feet on the second floor." 

Other earlier leases and store redevelopments on 33^rd street include Walgreen's, Starbucks, Sushi-Teria, Chop't and STATE Grill and Bar.

Phase two on 34^th Street is in progress, with prime multi-floor retail space available near the new Empire State Building Observatory entrance.

Alex Turboff of Branded Concept Development represented Tacombi, and Adam Weinblatt of Newmark Knight Frank represented Juice Press in the lease negotiations. Landlord representation was provided by Fred C. Posniak and Shanae Ursini of ESRT, along with Andrew Goldberg and Matt Chmielecki of CBRE. 

About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous building. Headquartered in New York, New York, the Company's office and retail portfolio covers 10.1 million rentable square feet, as of September 30, 2017, consisting of 9.4 million rentable square feet in 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York; and approximately 700,000 rentable square feet in the retail portfolio.

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Federal securities laws. You can identify these statements by use of the words "assumes," "believes," "estimates," "expects," "intends," "plans," "projects" and similar expressions that do not relate to historical matters. You should exercise caution in relying on forward-looking statements, because they involve risks, uncertainties and other factors which are, in some cases, beyond ESRT's control and could materially affect actual results.  Such factors and risks include, without limitation, a failure of conditions or performance regarding any event or transaction described above, regulatory changes, and other risks and uncertainties described from time to time in ESRT's filings with the SEC.  Except as may be required by law, ESRT does not undertake a duty to update any forward-looking statement.

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SOURCE Empire State Realty Trust, Inc.