Blackstone, a leading alternative asset management company, has officially announced its plans to expand its headquarters in Midtown Manhattan at Rudin’s 345 Park Ave. This expansion will add 250,644 square feet of office space to the Plaza District tower and extend Blackstone’s lease for an additional five years until 2034.
With this expansion, Blackstone’s total footprint in New York City will reach approximately 1.06 million square feet across 28 floors. This makes them the city’s seventh largest commercial office tenant. The initial lease agreement for two floors and 70,000 square feet was signed by Blackstone in1988.
According to Michael Rudin, co-CEO of Rudin: “The decision of such a prestigious financial services firm like Blackstone to expand their presence is a testament to the enduring appeal and resilience of New York City.”
Tom Keating , Rob Steinman , and Kevin Daly from Rudin represented building ownership while JLL’s Peter Riguardi , Joe Messina , Jessica Berkey , William McGarry , Hale King Cynthia Wasserberger Carlee Palmer along with Fried Frank’s Jonathan Mechanic Jen Yashar represented Blackstone during negotiations.
This news marks another milestone for Connect CRE as it continues its coverage on major developments within the commercial real estate industry.
