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Apollo Expands Footprint at Solow Building

With Apollo Global Management’s fee-related earnings jumping by 40% in a 12-month period, the private equity giant needed more headquarters space. It has increased its footprint at Solow Management’s 9 W. 57th St., the Solow Building, from 135,000 square feet to 175,000 square feet, and is also subleasing more than 71,000 square feet from MetLife at 3 Bryant Park.

The sublease space was funded by a buyout from Aman Resorts’ Vladislav Doronin of Apollo’s 60,000-square-foot lease at 730 Fifth Ave., the New York Post reported. Doronin acquired the upper floors of 730 Fifth for $500 million in 2015, with plans to convert it to a luxury hotel and condominiums.

Although the buyout price is confidential, “it was significant enough to pay for the 3 Bryant Park move,” CBRE’s Stephen Siegel told the Post. Siegel led a CBRE team representing Apollo. JLL’s Scott Panzer represented Solow.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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