AI-Backed Digital Solutions Firm EXL Expands to 30K SF at 320 Park Avenue

Artificial intelligence-backed integration firm EXLservice Holdings has signed a renewal and expansion of its offices in Midtown, Commercial Observer has learned.

EXL, which helps businesses utilize data and AI for their operations, renewed its existing space on the 29th floor of Munich Re’s 320 Park Avenue, while also signing a 10-year deal to expand onto the building’s entire 22nd floor, bringing the firm’s footprint to a total of 30,000 square feet, according to sources. The lease also brings the 35-story office property to full occupancy.

Asking rent in the building is $170 per square foot, sources said.

JLL’s David Kleiner, Frank Doyle and Carlee Palmer negotiated on behalf of the landlord, while Scott Bogetti and Meghan Marchini of Savills represented the tenant in the transaction.

JLL did not immediately respond to a request for comment, while Savills declined to comment.

EXL, also known as ExlService Holdings, uses artificial intelligence to provide innovative solutions to clients in industries such as insurance, health care, banking and media, according to its website. The company is based in New York but has 13 other offices throughout the world, with more than 60,000 employees.

Other tenants in the building between East 50th and East 51st streets include Monroe Capital, which also expanded to 30,000 square feet with the addition of another floor in June 2025, and Fidelity, which took a total of 23,500 square feet in December 2024.

Flagstar Bank also leased 59,000 square feet on the second and third floors of the building in January 2024 after acquiring Signature Bank’s deposits from the Federal Deposit Insurance Corporation following the regional banking crisis in March 2023.

Mark Hallum can be reached at mhallum@commercialobserver.com.