Bloomberg Expands Footprint in Manhattan with Massive Lease Renewal and Expansion

SL Green Realty has announced a major lease renewal and expansion with Bloomberg at 919 Third Avenue. The deal, totaling 924,876 square feet, cements Bloomberg’s presence in the iconic Midtown Manhattan tower for years to come..

The transaction comprises two key components. First, Bloomberg has extended its existing lease of 749,035 square feet for an additional 11 years, starting March 1, 2029. This renewal covers floors 2-18 and 28-33. Second, the media and financial data giant is expanding its footprint within the building by 175,841 square feet, signing a new 15-year lease for a portion of the 34th floor and the entirety of floors 35 and 41-44.

So far this year, SL Green has already signed 150 office leases in the borough, totaling 2,795,746 square feet, including the Bloomberg transaction. The REIT says it maintains a robust leasing pipeline of approximately 1.1 million square feet.

Based on current trends and projections, SL Green anticipates signing more than 3.3 million square feet of Manhattan office leases by the end of 2024. The company also expects to increase its Manhattan same-store office occupancy to 92.5% by December 31, 2024, factoring in leases signed but not yet commenced. “Overall leasing velocity continues to increase as tenants prioritize their preference for well-located, upgraded and amenitized buildings,” said Steven Durels, Executive Vice President and Director of Leasing and Real Property at SL Green.

919 Third Avenue is a 1.5 million-square-foot, 47-story office tower designed by Skidmore, Owings & Merrill. The building recently underwent extensive renovations, including upgrades to the lobby, entrances, and elevator cabs.

Bloomberg was represented by CBRE’s Howard Fiddle, Chris Mansfield, Zach Weil, and Ryan Luck. SL Green was handled by another CBRE team, including Robert Alexander, Ryan Alexander, Emily Chabrier, Taylor Callahan, Alex D’Amario, and Nicole Marshall.