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New York & Tri-State  + Midtown New York + New York  + Office  |  January 4, 2022
Fisher Brothers has reached full occupancy at Park Avenue Plaza in Midtown Manhattan with expansions by existing tenants
Paul Bubny
By: Paul Bubny

Report: Morgan Stanley Will Backfill 400K SF of BlackRock Offices

Morgan Stanley is betting on the future of office in New York City, signing a deal to take over space that currently houses the headquarters of BlackRock Inc., Bloomberg News reported. The 15-year lease is for roughly 400,000 square feet at Fisher Brothers’ Park Avenue Plaza, at 55 E. 52nd St. 

The lease represents an expansion for Morgan Stanley at Park Avenue Plaza, which already has offices there. The bank is headquartered at 1585 Broadway, near Times Square. BlackRock is moving its offices west to Hudson Yards in 2023. 

The lease is among the largest in Manhattan since the pandemic began, Bloomberg reported. It occurs as Wall Street firms, including Morgan Stanley, have been forced to adjust the timelines on their return-to-the-office plans—but also amid a resurgence in Manhattan office leasing. 

JLL represented Morgan Stanley in leasing negotiations, while CBRE negotiated on behalf of Fisher Brothers, Bloomberg reported. 

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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 16-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 7-10 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 GlobeSt.com 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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