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Blackstone reportedly is considering a relocation from its longtime headquarters at 345 Park Ave.

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.


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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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