The Real Deal New York

Bloomberg increases footprint at SL Green’s 919 Third

Media company signs new 204K sf lease

July 21, 2016 08:33AM

Michael Bloomberg and 919 Third Avenue in Midtown

For a company known to squeeze as many employees as possible into every square foot, Bloomberg LP sure needs a lot of space. The media and data company leased an additional 204,442 square feet at SL Green Realty’s 919 Third Avenue, increasing its space in the building to 450,000 square feet.

CBRE’s Craig Reicher, Howard Fiddle, Chris Mansfield and Chris Corrinet represented Bloomberg. The lease runs through 2029.

The company first signed a 254,556-square-foot lease in the Midtown East building in April 2015. Asking rent in last year’s deal was $62 per square foot, according to CoStar. The Real Deal, partnering with commercial real estate research firm CompStak, estimated the value of the lease signed last year at $220 million.

The 1.3 million-square-foot building, located between 55th and 56th streets, is a few blocks from Bloomberg’s headquarters at 731 Lexington Avenue.

Other tenants in the 47-story tower include retailer Bloomingdales, law firm Debevoise & Plimpton and marketing firm Interpublic Group. – Konrad Putzier

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