Private Equity Firm EQT Partners Expands to 115K SF at SL Green’s 245 Park Avenue

Sweden-based private equity firm eqt partners has vastly expanded its offices in Midtown.

EQT Partners, a global investment organization focused on active ownership strategies, has signed an expansion lease for 38,358 square feet across the entire 32nd floor of 245 Park Avenue, landlord SL Green Realty announced Monday. Asking rent was $190 per square foot.

The expansion brings EQT’s total footprint at the 44-story office tower to 114,562 square feet on the 32nd through 34th floors, according to SL Green. The private equity firm first moved into the building in December 2024.

“We’re delighted to expand our valued relationship with EQT as we advance a transformative redevelopment of 245 Park Avenue,” Steven Durels, executive vice president at SL Green, said in a statement. “Midtown leasing velocity continues to accelerate, punctuated by exceptionally strong submarkets like the Park Avenue and Grand Central corridors.”

The length of the expansion lease was unclear. Cushman & Wakefield’s Michael Movshovich and Ethan Silverstein brokered the deal for the tenant, while Bruce Mosler, Harry Blair, Ron Lo Russo, Justin Royce and Pierce Hance, also from C&W, represented the landlord.

Spokespeople for EQT and C&W did not immediately respond to requests for comment.

SL Green’s redevelopment of the 1.8 million-square-foot office building between East 46th and East 47th streets — two blocks away from Grand Central Terminal — includes a new lobby, as well as new plazas, storefronts and windows. The project also features new amenities including a wellness center, golf lounge and rooftop garden.

Other tenants at 245 Park Avenue include alternative investment manager Ares Management, hedge fund Verition Fund Management and business marketplace platform Tradeweb Markets.

Isabelle Durso can be reached at idurso@commercialobserver.com.