Bloomberg is doubling down on Midtown East.
The media and knowledge large inked an almost 500,000-square-foot lease extension at International Holdings’ 120 Park Avenue, locking in house throughout 20 of the 26-story tower’s flooring, the owner introduced. The renewal ranks as the biggest workplace lease of the fourth quarter and considered one of 2025’s largest general.
The brand new 11-year deal replaces Bloomberg’s prior lease, which wasn’t set to run out till 2029, and retains the corporate anchored throughout Midtown East. Bloomberg first moved into the constructing in 2011 and now occupies nearly all of the Class A tower, which sits throughout from Grand Central Terminal between East forty first and East forty second streets. Asking lease was $135 per sq. foot, per Crain’s, which first reported the deal.
The Park Avenue renewal is the newest transfer in Bloomberg’s Midtown East expansion spree. Final 12 months, the corporate extended its 947,000-square-foot lease for the whole thing of 731 Lexington Avenue’s workplace house via 2040. That constructing, owned by Alexander’s, is house to Bloomberg’s headquarters and seven,000 of its 12,000 New York-based staff. Bloomberg additionally signed a lease to expand its footprint at SL Green’s 919 Third Avenue to almost 925,000 sq. toes, up from 749,000 sq. toes on the property.
The Park Avenue extension comes as Eyal Ofer’s agency rolls out a slate of capital enhancements on the practically century-old tower. Deliberate upgrades embody a revamped foyer, elevator modernization and façade renovations.
CBRE’s Howard Fiddle, Chris Mansfield and Zachary Weil represented Bloomberg within the deal. International Holdings was represented in-house by Chris Roth, Craig Panzirer and Alex Radmin, together with JLL’s Paul Glickman and Diana Biasotti.
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