Blackstone to expand headquarters at 345 Park Avenue
Reuters
Published Mar 11, 2021 06:43PM ET
Updated Mar 11, 2021 08:10PM ET
(Reuters) - Blackstone Group (NYSE:BX) Inc has signed a deal to expand its presence at its Park Avenue, Manhattan headquarters, the asset manager's landlord the Rudin family said on Thursday.
345 Park Avenue, the building where Blackstone's current headquarters is housed, has been the company's home for more than 30 years.
Blackstone will lease an additional 80,000 square feet of office space, bringing its total property to about 720,000 square feet. It also extended all its leases in the building for an additional year until 2028.
"This expansion marks a significant commitment by one of the financial industry's leading firms and signals an important part of New York's recovery," said Bill Rudin, chief executive officer of Rudin Management Company, the operating arm of Rudin Family Holdings.
Blackstone's move to acquire more office space in Manhattan comes as COVID-19 vaccines are being rolled out in the city.
The company had completed a nearly 150,000 square feet of expansion in the building in 2018.
Other notable tenants in the building include global auditor KPMG and the National Football League. (This story refiles to change company name style to 'Blackstone' from 'BlackStone' in headline and throughout the text)
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Written By: Reuters
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