Monroe Capital Expands by 15K SF at 320 Park Avenue

Monroe Capital leased an additional 15,000 square feet of Munich Re’s office building at 320 Park Avenue, doubling its footprint and giving the asset management firm the entire 21st and 30th floors. 

The length of the lease was not immediately available, but asking rent was $170 per square foot, a source close to the deal told Commercial Observer. News of the lease was first reported in the New York Post.

Frank Doyle, David Kleiner and Carlee Palmer from JLL represented Munich Re in this lease, while Greg Taubin from Savills represented Monroe. JLL and Savills declined to comment, and Monroe did not immediately respond to a request for comment. 

Monroe had previously leased 15,000 square feet across the building’s entire 30th floor in December, the Post noted, after moving offices from 126 East 56th Street. Asking rent for that first space was $140 per square foot. 

Munich took full ownership of 320 Park Avenue, a 35-story office building also known as the Mutual of America Building, for more than $500 million in late 2024 from its joint venture partner Mutual of America, the Post reported at the time. The office building a block east of St. Patrick’s Cathedral spans the full length of Park Avenue between East 50th and East 51st streets.

Other office tenants at 320 Park Avenue include a corporate location of Flagstar Bank, financial institution Fidelity Investments, and wealth management services provider Raymond James. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.