Blackstone is expanding its New York City headquarters at 345 Park Avenue. The giant signed a seven-year lease for an additional 149,000 square feet of Midtown Manhattan office space here, according to the owner, Rudin Management.
The 1.9 million-square-foot, 44-story building at 345 Park Avenue boasts a LEED Gold Certification. Blackstone has been a tenant in the office tower since 1988. With this deal, the company brings its occupancy here to 575,000 square feet across 16 floors. It will be taking over the space Deutsche Bank’s DWS Group will vacate in 2019.
Neil Goldmacher of NKF represented Blackstone in the deal, while Rudin’s Tom Keating acted on behalf of the owner. The asking rent for the space was $125 per square foot, as reported by The Real Deal. Other tenants in the building include auditors KPMG, the National Football League and Loeb & Loeb LLP.
“We are excited to expand our footprint at 345 Park Avenue—Blackstone’s home for three decades—as the firm continues to grow to serve more clients across more product areas,” said Stephen A. Schwarzman, Blackstone Chairman, CEO and Co-Founder. “The Rudin family has been a world-class owner of the building and we look forward to our continued close relationship in the years ahead.”
“We are very pleased that Blackstone, one of the most esteemed financial services companies in the world, which has been headquartered at our building for the last 30 years, has chosen to expand at 345 Park Avenue,” said Bill Rudin, Co-Vice Chairman and CEO of Rudin Management Company.