Instacart, a San Francisco-based grocery delivery technology company, has concluded a lease agreement for a total of 26,134 square feet (approx. 2,428 square metres) at 111 West 33rd Street in New York City. This was announced by the owner, Empire State Realty Trust (ESRT). The seven-year lease was signed in the second quarter of 2026, with an asking rent of $75 per square foot.
As early as 2023, Instacart had concluded a sublease for 21,000 square feet at 50 West 23rd Street, a space previously used by software company Bizzabo. It is currently unclear whether Instacart will completely vacate its location at 50 West 23rd Street or if the new tenancy at 111 West 33rd Street represents an expansion of its existing presence in New York City. A statement from Instacart on this matter is still pending.
In addition to the Instacart tenancy, ESRT announced that biopharmaceutical company Hansa Biopharma has signed a lease for 7,052 square feet at 111 West 33rd Street. With this transaction, the 26-storey building is now 100 per cent occupied. ESRT also emphasised that its building at 1350 Broadway is fully let.
Ryan Kass, Executive Vice President, Co-Head of Real Estate and Chief Revenue Officer at ESRT, commented on the developments in a statement. He expressed that the full occupancy of both 111 West 33rd Street and 1350 Broadway is testament to the strength of these assets and the high demand for well-located, modernised, and amenity-rich office spaces in New York City.
Instacart was represented in the transaction by Josh Pernice, Timothy Kazul, and Conor Famulener of CBRE. Hansa Biopharma was advised by Matthew Leon and Jake Leon of Newmark. The owner was represented by Jordan Berger, Shanae Ursini, and Kerry Lavelle of ESRT, as well as by Scott Klau, Erik Harris, Neil Rubin, Cole Gendels, and Zachary Weil of Newmark. The aforementioned brokers have not yet responded to requests for further comment.
Built in 1954, the building at 111 West 33rd Street houses prominent tenants such as the consulting firm Clearview Healthcare Partners and the data company The Penta Group. The property is located one block west of the Empire State Building and also serves as ESRT's corporate headquarters.
