Boutique Investment Bank signs 270K-sf Deal at Park Ave Tower

PJT Partners will be expanding its footprint at 280 Park Avenue, following the recent signing of a 15-year renewal and expansion deal. As part of the deal, the global boutique investment bank converted an 80,000-square-foot sublease into a 130,000-square-foot direct lease, simultaneously renewing its existing 140,000-square-foot space. The entire 269,905-square-foot office spreads across six floors within the 1.25 million-square-foot tower spanning the entire Park Avenue block-front between East 48th and 49th Streets. The building underwent a $150 million redevelopment and modernization that included the creation of an expansive lobby, modernized amenities package, and environmental sustainability enhancements. Financial terms of the lease were not released.