Investment Firm Capital Group Takes 70K SF at Rudin’s 345 Park Avenue
The deal gives the firm an additional office near its NYC headquarters
By Isabelle Durso August 11, 2026 9:51 am
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Global investment management firm Capital Group is taking space for an additional office in New York City.
Capital Group, which is based in Los Angeles and oversees $3.6 trillion in assets, signed a 10-year lease for the entire 70,400-square-foot fourth floor of Rudin’s 345 Park Avenue in Midtown, according to the landlord. The firm will open its new office in the fall of 2027.
“345 Park Avenue’s prime location, large floor plates and our upcoming amenity enhancements distinguish it as a best-in-class asset,” Michael Rudin, co-CEO at Rudin, said in a statement. “We are pleased to accommodate Capital Group’s continued growth in the Plaza District and commitment to New York City.”
The lease is part of a $38 million investment by Capital Group that is expected to create 200 new jobs in the city over the next five years, according to Crain’s New York Business, which first reported news of the lease. Gov. Kathy Hochul is expected to announce the news Tuesday along with the state’s backing of the investment.
“Capital Group is making its largest investment ever in its sales force to create two new client coastal hubs in Los Angeles and New York and expand our presence in both,” Matt Eisenhardt, head of sales for the advisor group at Capital Group, wrote in a LinkedIn post in April.
Eisenhardt added that as part of the expansion, the firm plans to hire 130 new sales and sales support roles to reach more advisors.
The new deal at 345 Park Avenue represents a second New York City office for Capital Group, which will continue to operate its city headquarters out of a roughly 25,000-square-foot space three blocks north at BXP’s 399 Park Avenue.
The asking rent was unclear, but a report from Newmark found office rents along Park Avenue in Midtown averaged $127.78 per square foot during the second quarter of 2026.
CBRE‘s Chris Mansfield, Frank Scott, David Opper, Zachary Weil, Eddie Sisca and Trevor Larkin brokered the deal for Capital Group, while Robert Steinman repped Rudin in-house. Spokespeople for Capital Group and CBRE did not immediately respond to requests for comment.
The 44-story 345 Park Avenue, which is now fully leased, is also home to Blackstone, East West Bank and global law firm Loeb & Loeb, which expanded to 178,959 square feet at the building in July.
The office building between East 51st and East 52nd streets was the site of a mass shooting in July 2025 that killed four people and critically wounded a fifth.
Isabelle Durso can be reached at idurso@commercialobserver.com.
