Private Equity Firm Carlyle Takes 41K SF at 340 Madison Avenue

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Even as a host of companies cut office space, The Carlyle Group keeps getting bigger.

The private equity firm inked a 10-year deal for 40,542 square feet on the entire eighth floor of RXR’s 340 Madison Avenue, Commercial Observer has learned. Asking rent in the Midtown East building between East 43rd and 44th streets was $75 per square foot, according to landlord broker JLL.

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Carlyle took the space after it ran out of room to grow beyond its 194,702-square-foot headquarters at One Vanderbilt, where it has expanded four times in four years, according to JLL’s Matthew Astrachan

“There’s a pathway to grow at [340 Madison],” said Astrachan, who represented RXR with Paul Glickman, Cynthia Wasserberger, Dan Turkewitz and RXR’s Andrew Ackerman and Alexandra Budd. “An owner of real estate selecting this building really just speaks to its quality and competitive nature in the marketplace.”

Steve Rotter, Joe Messina and Brett Harvey, also of JLL, handled the deal for Carlyle.

Carlyle plans to move into its new space — previously occupied by fintech company FIS — next spring, according to Astrachan and RXR.

The 750,000-square-foot 340 Madison has recently drawn a handful of other financial tenants including PNC Bank renewing its 64,941-square-foot offices in June and AXA Investment Managers taking 12,303 square feet in July. 

Celia Young can be reached at cyoung@commercialobserver.com.