Gusto has doubled its footprint at Penn 1, bringing its total space to 76,000 square feet, according to Commercial Observer.
The human resources technology company signed a 13-year lease expansion covering 38,000 square feet on the 47th floor. Gusto also renewed its 38,000-square-foot space on the 52nd floor for five years. Together, the transactions bring Gusto’s presence at 1 Penn Plaza to 76,000 square feet.
The deal adds to the momentum at 1 Penn Plaza, which completed a $450 million renovation in 2023. The work added more than 160,000 square feet of amenities, including a restaurant and a 35,000-square-foot wellness and fitness center.
Tenant: Gusto
Building: 1 Penn Plaza
Floor: 47 & 52
Lease term: 13-year expansion and five-year renewal
SF: 76,000