{"id":36291,"date":"2023-05-26T09:18:27","date_gmt":"2023-05-26T06:18:27","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=36291"},"modified":"2025-03-25T16:09:02","modified_gmt":"2025-03-25T13:09:02","slug":"samsung-relocates-penn-district","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/","title":{"rendered":"Samsung Relocates to Vornado-Owned Office in Penn District"},"content":{"rendered":"

Electronics giant Samsung will be moving part of its operations in New York City to Vornado Realty Trust\u2019s Penn 1. The company signed a 10-year lease for 36,000 square feet across the entirety of the 26th<\/sup> floor, paying an estimated $100 per square foot. JLL\u2019s Matthew Astrachan\u00a0and\u00a0Simon Landmann\u00a0represented the tenant during the negotiation process, while\u00a0Josh Glick\u00a0and\u00a0Jared Silverman\u00a0handled the deal in-house for Vornado.<\/p>\n

The 2.53-million-square-foot Penn 1 \u2014 which takes up the entire block between West 33rd and West 34th streets and Seventh and Eighth avenues \u2014 was designed by Kahn and Jacobs and developed in 1972 by Helmsley-Spear.<\/p>\n

Notably, the building was subject to a $450 million renovation effort, which included an update to its lobby and elevators, as well as sustainability upgrades. The renovation also added 160,000 square feet of food and beverage amenities, including a full-service restaurant on the second floor. Tenants also have access to a 35,000-square-foot fitness and wellness center; 20,000 square feet of conferencing space; and 80,000 square feet of adaptable workspace.<\/p>\n

Since its renovation work at Penn 1, Vornado managed to lease out 700,000 square feet in the 57-story building. The tenant roster includes the likes of Dell, Empire Heath, Gusto, Hartford Insurance, Jacobs Engineering, Morgan Stanley and Wells Fargo.<\/p>\n

Samsung\u2019s previous office location was at 123 W. 18th<\/sup> St. in an eight-story, Chelsea property that has been owned by the Wasserman family for more than 50 years. The company originally signed an agreement for 15,000 square feet in the building in September 2014. That same year, the company\u00a0also leased 55,000 square feet<\/a>\u00a0at\u00a0837 Washington St. in the Meatpacking District.<\/p>\n

Looking to relocate?\u00a0Find your ideal workspace with <\/em>CommercialCafe.com<\/em><\/a>. Browse the latest office listings in your preferred location and filter results by space type, size or asking price:<\/em><\/p>\n\n\n\n\n\t\n\t\n\t\n\t\n\t
Office space in Dallas<\/a><\/td>Office space in Las Vegas<\/a><\/td>Office space in Fort Lauderdale<\/a><\/td>\n<\/tr>\n
Office space in Fort Worth<\/a><\/td>Office space in Denver<\/a><\/td>Office space in West Palm Beach<\/a><\/td>\n<\/tr>\n
Office space in Miami<\/a><\/td>Office space in Philadelphia<\/a><\/td>Office space in San Jose<\/a><\/td>\n<\/tr>\n
Office space in Phoenix<\/a><\/td>Office space in San Diego<\/a><\/td>Office space in San Antonio<\/a><\/td>\n<\/tr>\n
Office space in Cincinnati<\/a><\/td>Office space in Sacramento<\/a><\/td>Office space in Indianapolis<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Electronics giant Samsung will be moving part of its operations in New York City to Vornado Realty Trust\u2019s Penn 1. The company signed a 10-year lease for 36,000 square feet across the entirety of the 26th floor, paying an estimated $100 per square foot. JLL\u2019s Matthew Astrachan\u00a0and\u00a0Simon Landmann\u00a0represented the tenant during the negotiation process, while\u00a0Josh…<\/p>\n","protected":false},"author":56,"featured_media":36293,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37,38,4014,39],"tags":[],"class_list":["post-36291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-featured","category-office","wpautop"],"acf":[],"yoast_head":"\nSamsung Moves Offices to Penn District | CommercialCafe<\/title>\n<meta name=\"description\" content=\"Samsung will be moving part of its operations in New York City to Vornado Realty Trust\u2019s Penn 1. The company signed a 10-year lease for...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Samsung Relocates to Vornado-Owned Office in Penn District\" \/>\n<meta property=\"og:description\" content=\"Samsung will be moving part of its operations in New York City to Vornado Realty Trust\u2019s Penn 1. The company signed a 10-year lease for...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/\" \/>\n<meta property=\"og:site_name\" content=\"CommercialCafe\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-26T06:18:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-25T13:09:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2023\/05\/penn-district-manhattan.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1980\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Sabau\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Diana Sabau\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/\",\"name\":\"Samsung Moves Offices to Penn District | CommercialCafe\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2023\/05\/penn-district-manhattan.jpg\",\"datePublished\":\"2023-05-26T06:18:27+00:00\",\"dateModified\":\"2025-03-25T13:09:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/#\/schema\/person\/8ed2c6db9854340d5ddeef532edde241\"},\"description\":\"Samsung will be moving part of its operations in New York City to Vornado Realty Trust\u2019s Penn 1. The company signed a 10-year lease for...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/#primaryimage\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2023\/05\/penn-district-manhattan.jpg\",\"contentUrl\":\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2023\/05\/penn-district-manhattan.jpg\",\"width\":1980,\"height\":1280,\"caption\":\"penn district manhattan\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialcafe.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Samsung Relocates to Vornado-Owned Office in Penn District\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/#website\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/\",\"name\":\"CommercialCafe\",\"description\":\"Your Commercial Real Estate Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialcafe.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/#\/schema\/person\/8ed2c6db9854340d5ddeef532edde241\",\"name\":\"Diana Sabau\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2026\/04\/badge.png?w=93\",\"contentUrl\":\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2026\/04\/badge.png?w=93\",\"caption\":\"Diana Sabau\"},\"description\":\"Drawing on years of intense research in the U.S. commercial real estate market at Yardi Matrix, Diana now applies her expertise as a writer for the CommercialCafe blog. Her articles focus on CRE investment, labor market trends, and technology, and have been picked up by prestigious publications including the New York Times, GlobeSt, The Real Deal, NAIOP, MSN, and Bisnow.\",\"sameAs\":[\"diana.sabau@yardi.com\"],\"jobTitle\":\"Senior Content Writer, CRE News & Market Analysis\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/author\/diana-sabau\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Samsung Moves Offices to Penn District | CommercialCafe","description":"Samsung will be moving part of its operations in New York City to Vornado Realty Trust\u2019s Penn 1. The company signed a 10-year lease for...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/","og_locale":"en_US","og_type":"article","og_title":"Samsung Relocates to Vornado-Owned Office in Penn District","og_description":"Samsung will be moving part of its operations in New York City to Vornado Realty Trust\u2019s Penn 1. The company signed a 10-year lease for...","og_url":"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/","og_site_name":"CommercialCafe","article_published_time":"2023-05-26T06:18:27+00:00","article_modified_time":"2025-03-25T13:09:02+00:00","og_image":[{"width":1980,"height":1280,"url":"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2023\/05\/penn-district-manhattan.jpg","type":"image\/jpeg"}],"author":"Diana Sabau","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Diana Sabau","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/","url":"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/","name":"Samsung Moves Offices to Penn District | CommercialCafe","isPartOf":{"@id":"https:\/\/www.commercialcafe.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2023\/05\/penn-district-manhattan.jpg","datePublished":"2023-05-26T06:18:27+00:00","dateModified":"2025-03-25T13:09:02+00:00","author":{"@id":"https:\/\/www.commercialcafe.com\/blog\/#\/schema\/person\/8ed2c6db9854340d5ddeef532edde241"},"description":"Samsung will be moving part of its operations in New York City to Vornado Realty Trust\u2019s Penn 1. The company signed a 10-year lease for...","breadcrumb":{"@id":"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/#primaryimage","url":"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2023\/05\/penn-district-manhattan.jpg","contentUrl":"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2023\/05\/penn-district-manhattan.jpg","width":1980,"height":1280,"caption":"penn district manhattan"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialcafe.com\/blog\/samsung-relocates-penn-district\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialcafe.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Samsung Relocates to Vornado-Owned Office in Penn District"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialcafe.com\/blog\/#website","url":"https:\/\/www.commercialcafe.com\/blog\/","name":"CommercialCafe","description":"Your Commercial Real Estate Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialcafe.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialcafe.com\/blog\/#\/schema\/person\/8ed2c6db9854340d5ddeef532edde241","name":"Diana Sabau","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialcafe.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2026\/04\/badge.png?w=93","contentUrl":"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2026\/04\/badge.png?w=93","caption":"Diana Sabau"},"description":"Drawing on years of intense research in the U.S. commercial real estate market at Yardi Matrix, Diana now applies her expertise as a writer for the CommercialCafe blog. Her articles focus on CRE investment, labor market trends, and technology, and have been picked up by prestigious publications including the New York Times, GlobeSt, The Real Deal, NAIOP, MSN, and Bisnow.","sameAs":["diana.sabau@yardi.com"],"jobTitle":"Senior Content Writer, CRE News & Market Analysis","url":"https:\/\/www.commercialcafe.com\/blog\/author\/diana-sabau\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2023\/05\/penn-district-manhattan.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/posts\/36291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/comments?post=36291"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/posts\/36291\/revisions"}],"predecessor-version":[{"id":36292,"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/posts\/36291\/revisions\/36292"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/media\/36293"}],"wp:attachment":[{"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/media?parent=36291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/categories?post=36291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/tags?post=36291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}