Carlyle Group has significantly expanded its Manhattan office footprint. As a result, the firm’s New York presence now exceeds the size of its Washington, D.C., headquarters.
The global investment firm signed a 10-year lease for 150,036 square feet at 245 Park Avenue. The space spans the entire 23rd through 26th floors of the building. The property is owned by Mori Trust and SL Green Realty.
According to market data, asking rents at the building reached $175 per square foot. Consequently, the transaction reflects the continued strength of trophy office assets in Manhattan.
In addition, Carlyle signed another lease for more than 52,000 square feet at 200 Park Avenue. The building, known as the MetLife Building, sits directly above Grand Central Terminal.
The lease covers space on the fourth floor of the property. Meanwhile, asking rents at the MetLife Building have been around $100 per square foot.
These deals add to Carlyle’s existing presence at One Vanderbilt. The firm currently occupies more than 194,000 square feet in SL Green’s trophy office tower. As a result, Carlyle remains the largest tenant in the building.
Altogether, the firm now controls nearly 400,000 square feet of prime office space in Manhattan. By comparison, its Washington headquarters totals about 208,000 square feet.
Carlyle manages approximately $477 billion in assets globally. In addition, the firm operates across 27 offices with more than 2,500 employees.
Founded in 1987 in Washington, D.C., Carlyle began as a boutique investment firm. Over time, the company expanded into private equity, credit, and real asset strategies worldwide.
Interestingly, the expansion in New York represents a symbolic return. The firm was originally named after the Carlyle Hotel, where its founders first outlined the business.
The lease at 245 Park Avenue was announced recently by SL Green. However, the tenant was not identified publicly at the time. Meanwhile, the landlord reported strong leasing momentum entering the year.
About CORFAC International – New York
CORFAC International – New York, an extension of CORFAC International delivers over 90 years of Expertise for Commercial Real Estate in the Greater NY Metro Area. Comprised of a partnership of WCRE & Chilmark Real Estate Services, CORFAC International – New York provides practical guidance, analyzes crucial transaction details for optimal workspaces and deals, by leveraging market knowledge to drive client success. As committed advocates, we deliver measurable results, serving global clients with expert advisory and property management. We match your dedication with proven expertise.
