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Blackstone expands lease at NYC HQ

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Blackstone expands lease at NYC HQ

Private equity giant Blackstone Group LP signed a seven-year deal to expand its lease at its 345 Park Ave. headquarters in Manhattan, N.Y., to roughly 575,000 square feet, including the space that Deutsche Bank AG is set to vacate at the end of 2019, Bloomberg News reported, citing Jackie Hlavenka, a spokeswoman for building owner Rudin Management Co. Inc.

Blackstone will occupy four additional floors, taking its presence in the property to 16 floors, the news outlet said, citing a statement.

The building houses the German bank's wealth management unit and employees of its DWS Group GmbH & Co. KGaA subsidiary, along with the National Football League, KPMG and Loeb & Loeb LLP.

Deutsche Bank, headquartered at 60 Wall St. in Manhattan, is expected to move to One Columbus Circle in 2021.

A spokeswoman for Deutsche Bank declined to comment, the news outlet added.