Blackstone Inks Deal to Expand Headquarters on Park Avenue (2)

Blackstone Group Inc. has signed a lease to expand its headquarters in Manhattan, taking more space on Park Avenue as the firm recommits to staying in New York.

Blackstone will take an additional 80,000 square feet (7,432 square meters) at 345 Park Avenue, bringing its total at the property to about 720,000 square feet, according to a statement Thursday. The building, owned by the Rudin family, has been the New York-based firm’s headquarters for more than 30 years.

“The Rudins have been an outstanding partner for Blackstone since we first moved to 345 Park in 1987,” Jon Gray, Blackstone’s ...