Blackstone Nears Deal to Expand NYC Office Space on Park Avenue

Blackstone Inc. is finalizing a deal to expand its Manhattan headquarters space in one of the city’s largest office leases in recent years.

The money manager’s total leased space would increase to 1.06 million square feet (98,500 square meters) at Rudin’s 345 Park Ave., according to a person familiar with the matter. The deal would also extend Blackstone’s lease at the skyscraper through the end of 2034, the person said, asking not to be named citing private discussions.

With the new lease terms, Blackstone will occupy roughly 55% of the building spanning 28 floors, up from 42% today, the person ...