Apollo expands at Solow’s 9 West 57th St.

Company has shuffled its office space recently

New York /
Aug.August 14, 2018 10:15 AM

From left: 9 West 57th Street, Leon Black, and Sheldon Solow (Credit: Wikipedia, SOM, and Harvard)

Apollo Global Management is adding to its space at Sheldon Solow’s 9 West 57th Street, the latest in a series of changes in the company’s office leases.

The asset manager is increasing its space to 175,000 square feet from 135,000 square feet, the New York Post reported. The company is also moving to 3 Bryant Park, where it will sublease 70,000 square feet from MetLife.

The move to Bryant Park is being funded by Apollo’s exit from the Crown Building at 730 Fifth Avenue. Aman Resorts’ Vladislav Doronin, who bought the building’s office floors in 2015, has been buying out tenants’ leases to make way for a hotel and condo conversion of the property.

Apollo was bought out of its lease at the Crown Building, but the details of the deal are not public. CBRE‘s Stephen Siegel, who was part of a team that represented Apollo, said the buyout was enough to fund the relocation to 3 Bryant Park.

The expansion is good news for Solow, who has faced a few setbacks recently at his West 57th building. Private equity firm Providence Equity Partners is leaving the tower’s 47th floor for the Paramount Group’s 31 West 52nd Street. Next year, private-equity buyout giant KKR will also leave the building for 343,000 square feet at the Related Companies’ 30 Hudson Yards. [NYP] — Kathryn Brenzel


Related Articles

arrow_forward_ios
(Getty, Photo Illustration by The Real Deal)
Retail had its reckoning. Will subleases flood the market?
Retail had its reckoning. Will subleases flood the market?
Ascena owns Ann Taylor, Lane Bryant, Lou & Grey and Cacique. (Getty)
Ascena restructuring approved post-bankruptcy
Ascena restructuring approved post-bankruptcy
Apollo Global Management will take over craft retailer Michaels in a deal that values the company at $3.3 billion. (Wikipedia Commons, iStock)
Craft retailer Michaels to go private in $5B deal
Craft retailer Michaels to go private in $5B deal
 JLL CEO of capital markets Richard Bloxam and Roofstock CEO Gary Beasley (JLL, Roofstock, iStock)
JLL gets in rental home business
JLL gets in rental home business
Mack-Cali Realty CEO Mahbod Nia and MaryAnne Gilmartin (Photos via Mack-Cali Realty)
Mack-Cali Realty names Mahbod Nia as CEO
Mack-Cali Realty names Mahbod Nia as CEO
The comedy club argues that if SNL can operate, then they should be allowed to operate too. (Getty)
Manhattan comedy club sues Cuomo over pandemic closures
Manhattan comedy club sues Cuomo over pandemic closures
(iStock)
These were Manhattan’s best office submarkets in Q4
These were Manhattan’s best office submarkets in Q4
(iStock/Illustration by Alexis Manrodt for The Real Deal)
Order up: Real estate investors line up to buy drive-throughs
Order up: Real estate investors line up to buy drive-throughs
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...