Apollo Global Management Takes 70K-SF Sublease From MetLife at 3 Bryant Park
By Liam La Guerre August 2, 2017 4:19 pm
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Apollo Global Management (APO), a publicly traded private equity firm, has signed a sublease with MetLife for 70,000 square feet at 3 Bryant Park.
It will have two full floors in the building, which has an alternate address of 1095 Avenue of the Americas and is between West 41st and West 42nd Streets.
The asset manager is leaving its offices at the Crown Building at 730 Fifth Avenue, which Michael Shvo and Russian billionaire Valdislav Doronin are converting into residential condominiums, according to The Real Deal, which broke news of the transaction.
TRD reported that the new digs will not affect Apollo’s headquarters at the Solow Building at 9 West 57th Street between Fifth Avenue and Avenue of the Americas.
Cushman & Wakefield (CWK)’s Bruce Mosler and John Cefaly led a team that represented MetLife, while CBRE (CBRE)’s Stephen Siegel and Keith Caggiano brokered the transaction for Apollo.
The deal completes leasing of the roughly 400,000-square-foot offices that MetLife vacated at 3 Bryant Park for 200 Park Avenue. Two years ago, the company took upwards of 500,000 square feet in the Park Avenue building, as CO previously reported. (Today, MetLife has roughly 540,000 square feet at 200 Park Avenue—its namesake building—according to CoStar Group.)
The property at 3 Bryant Park, owned by a partnership of Ivanhoé Cambridge and Callahan Capital Properties, is also known as Salesforce Tower New York. (Salesforce signed a 300,000-square-foot sublease with MetLife two years ago, as CO reported at that time.)
MetLife, CBRE and Callahan declined to comment via spokespersons, while spokesmen for C&W and Apollo did not return requests for comment.
