Samsung Doubles Penn 1 Offices to 71K SF
By Lois Weiss June 5, 2025 3:33 pm
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Samsung is doubling its footprint to 71,000 square feet at Penn 1, Commercial Observer has learned.
The electronics company’s original lease was signed in March 2023 and covered 36,000 square feet across the entire 26th floor of Vornado Realty Trust’s 55-story tower, industry sources said. Under its new 10-year lease, Samsung is adding 35,000 square feet, encompassing the entire 25th floor, and is also extending the lease on the original space on the 26th floor by three years to make both deals coterminous.
The new floor had an asking rent of $110 per square foot, sources said. Samsung was represented by Matthew Astrachan at JLL while Vornado handled it by an in-house team led by Josh Glick.
Spokespeople for Vornado and JLL declined to comment.
Samsung took the space at the 2.5 million-square-foot Penn 1, next to Madison Square Garden, to move its ad sales group from its 15,000-square-foot offices at 123 West 18th Street, The Real Deal previously reported. The company also has 55,000 square feet at 837 Washington Street.
Vornado’s 2023 building-wide renovation of Penn 1 added more than 160,000 square feet of amenities on its first three floors that are open to all of Vornado’s Penn District properties, with some areas also open to the public.
These amenities include the restaurant, bar and private dining rooms of The Landing, along with a 35,000-square-foot wellness and fitness center and 100,000 square feet of flexible workspace and conference facilities.
Other Penn 1 tenants include Dell, Empire Health, Hartford Insurance, Morgan Stanley and Wells Fargo. The neighboring Penn 2 has tenants that include MSG, Major League Soccer and Universal Music Group. Tech companies in Vornado’s area properties include Apple at Penn 11, Meta at the Farley Building and Amazon at 7 West 34th Street.
