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Blackstone Reportedly Exploring Larger Manhattan Footprint
Blackstone Inc. is exploring a large office expansion in Manhattan, seeking space for its growing workforce at a time when many companies are embracing hybrid schedules, Bloomberg News reported.
The New York-based private equity firm is seeking about 1.5 million square feet of space as it considers relocating from its longtime headquarters at 345 Park Ave., according to people familiar with the matter.
Blackstone’s real estate hunt comes as Manhattan’s office market is struggling to recover from the pandemic, with many Midtown skyscrapers still largely empty, Bloomberg reported. Office vacancies have jumped in the past two years and many firms are reducing their footprint as they embrace remote work and hybrid schedules.
Currently, Blackstone has roughly 1.1 million square feet of Manhattan offices. About a year ago, the firm signed a short-term lease extension to expand at 345 Park. The firm also has offices at 601 Lexington Ave.
- ◦Lease


