New York City, November 14, 2025
Electra USA Inc., a leading electrical contracting firm, has secured a 10-year lease for 25,331 square feet at 10 East 53rd Street in Midtown Manhattan. This move from their previous location demonstrates their growth and commitment to New York. The building, now fully occupied, features competitive rental rates and houses other prestigious tenants, showcasing the continued demand for quality office spaces in the city.
Electra USA Inc. Expands Footprint in Midtown Manhattan
Leading Electrical Contractor Moves to 10 East 53rd Street
New York City, NY
Electra USA Inc., a well-known electrical contracting firm, has made a significant move in the heart of Midtown Manhattan by securing a 10-year lease for 25,331 square feet at SL Green Realty’s 10 East 53rd Street. This marks a notable relocation from their previous office at 106 West 56th Street, indicating the company’s continued growth and commitment to maintaining a strong New York presence.
Situated between Fifth and Madison avenues, the building is not only strategically located in one of the city’s bustling areas but also sets a high standard for commercial real estate. Electra USA will occupy the fourth and 31st floors of the 37-story building, which has now reached full occupancy. The competitive rental rates in the building range from $95 to $125 per square foot, reflecting the premium nature of this office space.
Electra USA: A Commitment to New York
Electra USA is part of a larger ecosystem of contracting companies, owning brands like Gilston Electric, Hellman Electric, FW Sims, and PJ Mechanical. Each of these subsidiaries operates across multiple locations in the city and even extends to Long Island, demonstrating the resilience and entrepreneurial spirit that defines New York’s small businesses. These companies are integral to the city’s economic fabric, contributing to job creation and infrastructure development.
The Building and Its Tenants
10 East 53rd Street boasts a diverse tenant lineup, including prestigious names such as Swarovski, Tarsadia Capital, Investec USA Holdings, First State Investments, Capital Dynamics, and the International Swaps & Derivatives Association. The presence of top-tier companies in this building not only enhances the area’s appeal but also underscores the ongoing demand for quality office spaces in a post-pandemic world.
A Positive Trend for Commercial Real Estate
This lease agreement highlights the resilience of New York City’s commercial real estate market. As businesses adapt to changing work dynamics, the demand for strategic office spaces remains strong. Such developments are vital as they contribute to the broader narrative of economic recovery and growth in the city, enhancing the environment for entrepreneurs and fostering innovation.
The Future Looks Bright
Electra USA’s new lease is a beacon of entrepreneurial innovation, showcasing the potential of private investment in driving local economic growth. This move not only expands the company’s operational capacity but also represents an important step towards revitalizing New York’s economic landscape. The commitment of firms like Electra USA is critical in building a robust future for small businesses in the city.
Conclusion
The decision by Electra USA to expand its presence in Midtown highlights a positive trend within New York City’s commercial real estate market. As local businesses continue to leverage high-quality office spaces, they contribute significantly to the resilience and dynamism of the city’s economy. Residents and stakeholders are encouraged to support local businesses and stay engaged in shaping New York’s economic future.
FAQ
What is the size of the lease secured by Electra USA?
The lease secured by Electra USA is for 25,331 square feet at 10 East 53rd Street.
Which floors will Electra USA occupy in the building?
Electra USA will occupy the fourth and 31st floors of the 37-story building.
What are the rental rates at 10 East 53rd Street?
The rental rates in the building range from $95 to $125 per square foot.
Who are some of the other tenants in the building?
Other tenants in the building include Swarovski, Tarsadia Capital, Investec USA Holdings, First State Investments, Capital Dynamics, and the International Swaps & Derivatives Association. Fitness club Equinox leases space at the base of the building.
What is the significance of this lease agreement?
This lease agreement underscores the continued demand for quality office spaces in New York City, reflecting a positive trend in the commercial real estate market.
Key Features
| Feature | Details |
|---|---|
| Lease Duration | 10 years |
| Lease Area | 25,331 square feet |
| Building Floors Occupied | Fourth and 31st floors |
| Building Height | 37 stories |
| Rental Rates | $95 to $125 per square foot |
| Other Tenants | Swarovski, Tarsadia Capital, Investec USA Holdings, First State Investments, Capital Dynamics, International Swaps & Derivatives Association, Equinox Fitness Club |
Now Happening on X
- @commobserver (November 13, 2025): Electra USA has signed a 25,000-square-foot lease at SL Green’s 10 East 53rd Street in Midtown Manhattan. View on X
- @DailyREITBeat (November 11, 2025): Moroccanoil signs a 10-year lease for nearly 40,000 square feet at SL Green Realty’s 1185 Sixth Avenue in Midtown Manhattan, relocating from 135 East 57th Street. View on X
- @TTaylor_Trepp (November 12, 2025): Manhattan office leasing has surged to 30.2 million square feet through September 2025, the busiest year since 2018, with Class-A and trophy buildings driving 81% of new activity. View on X
- @thecredaily (November 13, 2025): Leasing activity in a key New York market has more than doubled year-over-year as companies opt to remain in the area despite limited inventory. View on X
- @nypostbiz (November 9, 2025): SL Green’s 1185 Sixth Avenue office building is now more than 90% leased, highlighting strong demand in Midtown. View on X
- @tradedny (November 13, 2025): A new office lease deal at 650 Fifth Avenue in Midtown Manhattan involves AXCS Capital, brokered by key players in the market. View on X
- @tradedny (November 12, 2025): A ground lease transaction for a 270,000-square-foot development site at 563 Sackett Street in Brooklyn has been finalized between Montgomery Street Partners and Full Time Management. View on X
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