Swiss Mining Company Glencore Takes 45K SF at Vornado’s 90 Park Avenue
By Isabelle Durso March 3, 2025 4:05 pm
reprints
Swiss commodities trading and mining company Glencore has dug up some office space near Midtown’s Bryant Park.
Glencore, which produces and markets thermal coal for various industrial and energy customers, signed a lease for 44,968 square feet at Vornado Realty Trust (VNO)’s 90 Park Avenue, according to a February office report from Colliers (CIGI).
The length of the lease and asking rent were unclear, but Colliers’ report found office rents in Midtown averaged $79 per square foot in February.
The deal represents a relocation for Glencore, which currently has 60,000 square feet just a few blocks north at 330 Madison Avenue, according to a source familiar with knowledge of the deal.
Glencore — which has outposts in 35 countries around the world — opened a New York City office in 2017, when it moved its Stamford, Conn., space to Vornado’s 330 Madison.
Savills’ Jeffrey Peck, Daniel Horowitz, Jacob Stern and Roi Shleifer brokered the deal for the tenant, while it was unclear who represented the landlord.
Vornado, Glencore and Savills declined to comment, while a spokesperson for Colliers did not immediately respond to a request for comment.
Other tenants of the building between East 39th and East 40th streets include online advertising platform adMarketplace, auditing firm PricewaterhouseCoopers and coffee shop Starbucks in ground-floor retail space.
It was a relatively busy month for office leasing in February, despite seeing a slight 12.5 percent dip in leasing volume to a monthly total of 3.2 million square feet, according to Colliers’ report.
Other big office leases signed last month include Japanese bank Mizuho Financial Group’s 151,409-square-foot deal at 1285 Avenue of the Americas and law firm Davis Polk & Wardwell’s 61,396-square-foot lease at 237 Park Avenue.
Isabelle Durso can be reached at idurso@commercialobserver.com.
