Deals

Blackstone Taking Deutsche Bank NYC Space Is Sign of Times

  • Private equity firm expands lease at Park Avenue headquarters
  • German bank has been cutting thousands of positions globally
345 Park AvenuePhotographer: John Rizzo/Bloomberg
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A Manhattan real estate transaction is highlighting the shifting fortunes in global finance.

Blackstone Group LP is expanding in its New York City headquarters, taking four additional floors at a Park Avenue tower as Deutsche Bank AG prepares to move out.