Global investment firm the Carlyle Group <\/b>has leased more than 202,000 square feet across two Park Avenue buildings, Commercial Observer has learned.\u00a0<\/p>\n
In the largest deal, Carlyle, which had up to $477 billion in assets under management as of late 2025, signed a 10-year deal for 150,036 square feet at SL Green Realty<\/a><\/b>\u2019s 245 Park Avenue<\/b>, according to sources with knowledge of the deal. In a March 3 press release<\/a> detailing recent leases, SL Green identified Carlyle only as \u201ca large global investment firm.\u201d<\/p>\n SEE ALSO: SHoP Architects Expands to 56K SF at Woolworth Building<\/a><\/p>\n Meanwhile, Carlyle is adding another 52,121 square feet at Irvine Company<\/a><\/b>\u2018s 200 Park Avenue<\/b>, also known as the MetLife<\/a> Building<\/b>, sources confirmed. At 200 Park, Carlyle will share the other portion of the fourth floor with insurance firm MetLife<\/b>, which in December 2023 renewed 400,000 square feet<\/a> for 11 years in its namesake tower.<\/p>\n Cushman & Wakefield<\/a><\/b>\u2019s Bruce Mosler<\/b>, Harry Blair<\/b>, Ron LoRusso<\/b>, Justin Royce<\/b> and Pierce Hance<\/b> represented SL Green in the 245 Park Avenue deal, while CBRE<\/a><\/b>\u2019s Mary Ann Tighe<\/b>, Howard Fiddle<\/b>, Peter Turchin<\/b>, Evan Haskell<\/b> and Brett Shannon<\/b> represented Irvine Companies in the 200 Park Avenue deal.<\/p>\n Carlyle was represented in its new transactions by a JLL<\/a><\/b> team of Joe Messina<\/b>, Evan Margolin<\/b>, Jessica Berkey<\/b>, Andrew Lutzer<\/b>, Gregory Lubar<\/b> and Steve Spartin, Jr.<\/b><\/p>\n The two deals total 202,157 square feet and come in addition to Carlyle\u2019s 194,702-square-foot office<\/a> at SL Green\u2019s One Vanderbilt<\/b>, where it occupies the 34th through 38th floors along with the 32nd floor. Carlyle took over the 32nd floor space from Greenberg Traurig<\/a><\/b> after the law firm gave up its rights to the floor in 2021.<\/p>\n \u201cThis is pure growth for Carlyle,\u201d sources said. \u201cRight now, they aren\u2019t giving up anything at One Vandy.\u201d<\/p>\n The asking rent at 245 Park Avenue was $175 per square foot. The asking rent at 200 Park Avenue was $100 per square foot, while the length of Carlyle\u2019s lease at that building was unknown.<\/p>\n SL Green also recently signed a lease expansion with another One Vanderbilt tenant, law firm McDermott Will & Schulte<\/a><\/b>. The firm signed a 16-year expansion lease for 29,734 square feet on the entire 48th floor of the office tower, increasing its occupancy to approximately 200,000 square feet.<\/p>\n McDermott has occupied the 44th through 46th floors, as well as the 67th floor, since a lease signed in 2018. For the new transaction, SL Green was represented by its in-house leasing team and McDermott repped itself.<\/p>\n In a busy month for SL Green, the landlord also cut a deal with investment advisory firm Cliffwater<\/a><\/b> at 245 Park Avenue for the entire 37,987-square-foot 27th floor at an asking rent of $175 per square foot. That investment firm is currently at 477 Madison Avenue<\/b>, where it signed a deal with RFR<\/b> for 12,310 square feet on the 16th floor in 2022.<\/p>\n Cliffwater was repped in their deal by Ben Shapiro<\/b>, Matt Lorberbaum<\/b> and Neil Goldmacher<\/b> at Newmark<\/a><\/b>.<\/p>\n Compared to asking rents at One Vanderbilt, which can be over $300 per square foot, the new deals at the Park Avenue buildings are a bargain. Both 245 Park Avenue and 200 Park Avenue have extensive amenities \u2014 including golf and Formula One simulators \u2014 that may be open to Carlyle\u2019s other employees.\u00a0\u00a0\u00a0<\/p>\n Other tenants in 200 Park Avenue include law firm Winston & Strawn<\/b>, which renewed its 237,815-square-foot lease in December 2024<\/a>, and restaurant group La Pecora Bianca<\/b>, which signed an 11,300-square-foot deal in October 2024<\/a> for an Italian eatery called Giulietta<\/b> on the ground floor.<\/p>\n Meanwhile, CBRE also has 180,000 square feet of office space at the property, which it now both manages and leases on behalf of the Irvine Companies.\u00a0<\/p>\n Representatives for Carlyle, SL Green, JLL, CBRE, Cushman & Wakefield, Newmark and Greenberg Traurig declined to comment or did not immediately return requests for comment on the transactions.<\/p>\n","protected":false},"excerpt":{"rendered":"Global investment firm the Carlyle Group has leased more than 202,000 square feet across two Park Avenue buildings,…\n","protected":false},"author":3,"featured_media":644850,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5122],"tags":[274110,5229,274111,121115,274112,131824,4282,274113,274114,274115,274116,274117,274118,274119,274120,7745,274121,274122,274123,405,403,5226,5225,5228,5227,274109,145965,274124,274125,274126,274127,67,586,132,5230,68,2969],"class_list":["post-644849","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-245-park-avenue","tag-america","tag-andrew-lutzer","tag-ben-shapiro","tag-brett-shannon","tag-bruce-mosler","tag-channel","tag-evan-haskell","tag-evan-margolin","tag-gregory-lubar","tag-harry-blair","tag-howard-fiddle","tag-jessica-berkey","tag-joe-messina","tag-justin-royce","tag-leases","tag-mary-ann-tighe","tag-matt-lorberbaum","tag-neil-goldmacher","tag-new-york","tag-new-york-city","tag-newyork","tag-newyorkcity","tag-ny","tag-nyc","tag-office-leases-200-park-avenue","tag-one-vanderbilt","tag-peter-turchin","tag-pierce-hance","tag-ron-lorusso","tag-steve-spartin","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-usa"],"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/644849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=644849"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/644849\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/644850"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=644849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=644849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=644849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}