Global investment firm the Carlyle Group 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>\u2019s 245 Park Avenue, 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>\u2018s 200 Park Avenue, also known as the MetLife<\/a> Building, sources confirmed. At 200 Park, Carlyle will share the other portion of the fourth floor with insurance firm MetLife, which in December 2023 renewed 400,000 square feet<\/a> for 11 years in its namesake tower.<\/p>\n Cushman & Wakefield<\/a>\u2019s Bruce Mosler, Harry Blair, Ron LoRusso, Justin Royce and Pierce Hance represented SL Green in the 245 Park Avenue deal, while CBRE<\/a>\u2019s Mary Ann Tighe, Howard Fiddle, Peter Turchin, Evan Haskell and Brett Shannon represented Irvine Companies in the 200 Park Avenue deal.<\/p>\n Carlyle was represented in its new transactions by a JLL<\/a> team of Joe Messina, Evan Margolin, Jessica Berkey, Andrew Lutzer, Gregory Lubar and Steve Spartin, Jr.<\/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, where it occupies the 34th through 38th floors along with the 32nd floor. Carlyle took over the 32nd floor space from Greenberg Traurig<\/a> 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>. 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> 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, where it signed a deal with RFR for 12,310 square feet on the 16th floor in 2022.<\/p>\n Cliffwater was repped in their deal by Ben Shapiro, Matt Lorberbaum and Neil Goldmacher at Newmark<\/a>.<\/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, which renewed its 237,815-square-foot lease in December 2024<\/a>, and restaurant group La Pecora Bianca, which signed an 11,300-square-foot deal in October 2024<\/a> for an Italian eatery called Giulietta 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":2,"featured_media":158632,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[30567,65453,22201,65454,26045,3624,24702,48182,65455,65456,24704,65457,65458,65459,2361,75,84,83,13504,65460,65461,9,24,63,65452,13505,65462,65463,65464,65465],"class_list":{"0":"post-158631","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-manhattan","8":"tag-245-park-avenue","9":"tag-andrew-lutzer","10":"tag-ben-shapiro","11":"tag-brett-shannon","12":"tag-bruce-mosler","13":"tag-channel","14":"tag-evan-haskell","15":"tag-evan-margolin","16":"tag-gregory-lubar","17":"tag-harry-blair","18":"tag-howard-fiddle","19":"tag-jessica-berkey","20":"tag-joe-messina","21":"tag-justin-royce","22":"tag-leases","23":"tag-manhattan","24":"tag-manhattan-headlines","25":"tag-manhattan-news","26":"tag-mary-ann-tighe","27":"tag-matt-lorberbaum","28":"tag-neil-goldmacher","29":"tag-new-york","30":"tag-new-york-city","31":"tag-nyc","32":"tag-office-leases-200-park-avenue","33":"tag-one-vanderbilt","34":"tag-peter-turchin","35":"tag-pierce-hance","36":"tag-ron-lorusso","37":"tag-steve-spartin"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/158631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=158631"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/158631\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/158632"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=158631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=158631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=158631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}