Blackstone is increasing its headquarters to more than 1M SF at 345 Park Avenue and extending the lease on the space through the end of 2034.
The private equity giant is finalizing the largest Manhattan office lease deal of 2024—or any year in recent memory—to take 28 floors encompassing 1.06M SF in Rudin's tower, Bloomberg reported.
With the expansion and extension of its 750K SF lease at the 1.9M SF tower, Blackstone will now occupy 55% of the building, where it has been a tenant since 1988. The deal is a six-year extension of the lease.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
