Bloomberg extends lease for Manhattan HQ

Bloomberg LP struck an 11-year lease extension with Alexander’s Inc. for its global headquarters in New York, reports Katherine Chiglinsky of Bloomberg News.

Chiglinsky reports, “The company will continue to occupy all the office space at 731 Lexington Ave., which totals 946,815 square feet (87,962 square meters), according to a statement Monday. The new agreement extends Bloomberg’s lease, which was set to expire in 2029, through 2040.

“While office owners have come under pressure recently with the rise in remote work and higher borrowing costs, certain buildings have been able to attract and retain tenants. This year, retailer American Eagle Outfitters Inc. struck a deal to relocate its New York offices to 63 Madison Ave. and private equity firm Advent International agreed to move its offices to Manhattan’s Seagram Building.”

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.