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Universal Music Group Leases 336K SF at Vornado’s PENN 2

Universal Music Group (UMG) has leased a reported 336,000 square feet at Vornado Realty Trust’s redeveloped PENN 2, for its New York offices. As part of a 22-year lease, UMG will occupy the entire fourth through seventh floors of PENN 2.

The building will serve as the headquarters of Def Jam Recordings, Island Records, Mercury Records and Republic Records, Bravado and Verve Label Group. The building will also serve as the East Coast offices for leading global music publisher Universal Music Publishing Group as well as several UMG corporate functions.

Glen Weiss, EVP, office leasing & co-head of real estate at Vornado, said, “We are delighted to welcome Universal Music Group to THE PENN DISTRICT, which has firmly established itself as the epicenter of Manhattan’s new West Side. Universal Music’s commitment to PENN 2 is further evidence of the district’s appeal to the world’s most iconic brands in business, lifestyle and entertainment.”

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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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