BlackRock Expands on East 52nd Street


Park Avenue Plaza.
Park Avenue Plaza.

BlackRock, the New York-based asset management firm, is expanding at the Fisher Brothers and Soho China’s Park Avenue Plaza at 55 East 52nd Street.

The firm will be expanding into 31,000 square feet on the 27th floor of the 45-story tower, according to The Real Deal, which first reported the deal. TRD noted that the the firm will pay rents slightly below $100 per square foot as part of the eight-year lease. 

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Fisher Brothers’ Marc Packman represented the landlord in negotiations. Cushman & Wakefield’s Donald DiRenzo represented the tenant. Fisher Brothers declined to comment. Both C&W and BlackRock did not immediately respond to requests for comment.

Park Avenue Plaza is a 1.2-million-square-foot building designed by Skidmore, Owings & Merrill. It was built in 1981. Other tenants include Court Square Capital Partners, Morgan Stanley, Brioni and General Atlantic.

In January 2014, Commercial Observer wrote about the landlords’ decision to redesign the building’s public-access arcade, expected to cost $35 million.