Infinium Wall Systems has leased 30,017 square feet of office and retail space at Empire State Realty Trust's 1359 Broadway in Midtown Manhattan. The company, which designs, engineers, and installs wall systems and doors for commercial offices, signed the deal as the landlord announced the transaction Monday.
The lease represents a significant commitment to ESRT's Midtown portfolio. 1359 Broadway, located in the heart of Manhattan's office district, has been a focus property for the REIT as it works to stabilize occupancy in a challenging office market. The deal shows demand persists for quality space in trophy buildings, even as Midtown grapples with elevated vacancy rates and remote work headwinds.
For Infinium, the move consolidates its New York operations into a premier Flatiron District location. The company serves the commercial construction and interiors market, positioning it well to support clients throughout Manhattan. Office tenants increasingly value proximity to design and building service providers, making 1359 Broadway's Midtown location strategic.
The lease provides ESRT with much-needed occupancy gains. The REIT owns and manages 10.1 million square feet across its portfolio, with significant exposure to the Midtown office market. Trophy buildings like 1359 Broadway command premium rents, but filling large blocks of space remains competitive. Landing a 30,000-square-foot tenant demonstrates the building's appeal despite broader market softness.
Infinium's commitment also signals confidence in Manhattan's office sector recovery. While sublease space and remote work policies have pressured demand, companies still rent full-service floors for operations that require in-person collaboration and inventory storage. Wall systems and door manufacturers benefit from both new construction and retrofit work as tenants upgrade spaces post-pandemic.
ESRT likely retained strong economics on this lease given