Blackstone to expand headquarters at 345 Park Avenue

Blackstone to expand headquarters at 345 Park Avenue

News: Blackstone to expand headquarters at 345 Park Avenue.

(Reuters) – Blackstone Group Inc has signed an agreement to expand its presence on Park Avenue in Manhattan, the asset manager’s landlord, the Rudin family, announced Thursday.

345 Park Avenue, the building that currently houses Blackstone’s headquarters, has been home to the company for more than 30 years.

Blackstone will rent additional 80,000 square feet of office space, bringing the total area to around 720,000 square feet. It also extended all leases in the building for an additional year until 2028.

“This expansion represents a significant commitment from one of the financial leaders and signals an important part of the recovery in New York,” said Bill Rudin, chairman of the board of Rudin Management Company, the operations arm of Rudin Family Holdings.

Blackstone’s move to acquire more office space in Manhattan comes with the introduction of COVID-19 vaccines in the city.

The company completed a nearly 150,000-square-foot extension to the building in 2018.

Other notable tenants of the building include global accountants KPMG and the National Football League. (This story changes to change the style of the company name from “BlackStone” in the heading and throughout the text to “Blackstone”.)

Reporting by Sohini Podder in Bengaluru; Adaptation by Amy Caren Daniel

Original Source © Reuters

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