According to a report from the New York Business Journal, Balyasny Asset Management has recently expanded its presence in New York City by signing one of the largest leases in Midtown Manhattan during the third quarter. The Chicago-based investment management firm renewed and expanded their lease at 767 Fifth Ave., also known as The General Motors Building, for a total of 163,803 square feet. This news was reported in CBRE’s third-quarter Midtown Office Figures report.
In 2017, Balyasny occupied only 64,000 square feet at this location. However, with their recent renewal and expansion across five floors of the building according to an SEC filing on October 15th , they have significantly increased their office space.
This move comes as Balyasny plans for a $200-million hiring spree according to Bloomberg. With offices already established in cities such as Boston, San Francisco Hong Kong Tokyo and Toronto among others , this expansion is just another step towards growth for the company.
The lease signing at GM Building was ranked fourth among other major office deals that took place during Q3 in Midtown Manhattan including Ares Capital Corp., Willkie Farr & Gallagher LLP and Christie’s Inc., based on CBRE’s report.
