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
270 W Montauk Hwy, Hampton Bays, NY (Loopnet)
Legendary Hampton Bays bar up for sale
Legendary Hampton Bays bar up for sale
Prologis Chairman and CEO Hamid Moghadam (Getty, Prologis)
Industrial space “effectively sold out” amid leasing frenzy, Prologis says
Industrial space “effectively sold out” amid leasing frenzy, Prologis says
Starwood raises $10B for distressed real estate plays
Starwood raises $10B for distressed real estate plays
Starwood raises $10B for distressed real estate plays
Aulder Capital CEO Jonah Bamberger and 162-164 East 82nd Street (Rosewood Realty Group, Slate Property Group)
Two Upper East Side apartment buildings head to foreclosure sale
Two Upper East Side apartment buildings head to foreclosure sale
Stripes founder Ken Fox and a rendering of 40 10th Avenue (Stripes, Neoscape)
Private equity firm carves out 14K sf at Aurora’s Solar Carve building
Private equity firm carves out 14K sf at Aurora’s Solar Carve building
Resurrection! Work resumes on stalled Clinton Hill residential project
Resurrection! Work resumes on stalled Clinton Hill residential project
Resurrection! Work resumes on stalled Clinton Hill residential project
CRE held up through the pandemic far better than most expected (iStock)
How commercial real estate survived the pandemic
How commercial real estate survived the pandemic
Harbor Group grabs $558M in financing for Black Rock purchase
Harbor Group grabs $558M in financing for Black Rock purchase
Harbor Group grabs $558M in financing for Black Rock purchase
arrow_forward_ios

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

Loading...