Bloomberg LP Signs 925K-sf Renewal/Expansion Deal on Third Avenue
Just five months following the announcement of Bloomberg LP’s lease extension of its 946,815-square-foot space at 731 Lexington Avenue, the media organization has made headlines again following anther block-buster deal. Currently occupying 749,035 square feet on floors 2 through 18 and 28 through 33 at 919 Third Avenue, Bloomberg LP’s recent signing extends the firm’s existing lease for 11 years starting March 1, 2029. Simultaneously, a new 15-year lease was signed for an additional 175,841 square feet spread across the entire 35th floor, the 41st through 44th floors, plus a portion of the 34th floor, bringing Bloomberg LP’s total footprint to 924,876 square feet, while boosting occupancy at the 47-story tower to over 92%. Initially establishing an office at the building in 2015 following a 15-year lease for 254,556 square feet, approximately one year later, the company expanded by 204,442 square feet; and in 2021, secured a further expansion of 191,207 square feet of floors 28 through 33. Located about three blocks south of Bloomberg LP’s Lexington Avenue headquarters, unlike the resulting commitment to spend up to $124 million on building-wide improvements by Vornado Realty Trust as part of Bloomberg LP’s lease extension deal in May, SL Green Realty “isn’t required to offer upgrades or improvements to 919 Third other than replacing long-term equipment” according to reported statements by a spokesperson, the press release by the REIT further noting that the building recently completed “an extensive renovation of the building lobby, entrances and elevator cabs.”