Blackstone expands to 90K sf at Boston Properties’ 601 Lex

Private equity giant grew out of headquarters at 345 Park Avenue

TRD New York /
Jul.July 08, 2015 12:45 PM

Private equity behemoth Blackstone Group is set to expand into Boston Properties’ 601 Lexington Avenue with a 90,000-square-foot lease.

The firm signed on for 30,000 square feet on the 17th floor in February, and recently picked up its options on the 15th and 16th floors, for another 59,600 square feet, according to the New York Post.

Starting rent for the February deal was $78.50 per square foot.

Blackstone’s New York City headquarters is in 345 Park Avenue, near Lexington Avenue and just one block south. The new location at 601 Lexington Avenue is situated between 53rd and 54th streets.

Newmark Grubb Knight Frank’s Neil Goldmacher represents Blackstone, and Boston Properties is represented by JLL’s David Kleiner, Cynthia Wasserberger and Frank Doyle.

In June, Blackstone purchased a Flushing retail complex for $400 million. In the spring, it acquired most of General Electric’s $30 billion real estate portfolio along with Wells Fargo. [NYP] — Tess Hofmann


Related Articles

arrow_forward_ios
WeWork's co-CEO Sebastian Gunningham speaks at the launch of Dock 72

What, We Worry? Execs remain confident in WeWork-anchored Brooklyn project

Here’s a look at Blackstone’s industrial plays after its record-breaking portfolio purchase

From left: Jonathan Gray and Steve Schwarzman with Stuyvesant Town

Behind Blackstone’s “capital strike”

October Issue is Live

The Real Deal‘s October issue is now available to subscribers!

Blackstone buys Colony Capital’s warehouse portfolio for $6B

Here’s why landlords don’t hate California’s rent control bill

65 East 55th Street and EQ Office CEO Lisa Picard (Credit: Park Avenue Tower and VTS)

Blackstone looks to sell Park Ave Tower for more than $800M

Blackstone CEO Steven Schwartzman and Stuyvesant Town (Credit: Getty Images)

After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies

arrow_forward_ios