Morgan Stanley Bets on NYC With Lease for BlackRock Offices
- Manhattan lease is among the largest signed during pandemic
- New York office market has shown signs of rebound recently
Blackrock headquarters at 55 E. 52nd Street in New York.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
Morgan Stanley is betting on offices in New York City.
The New York-based bank has signed a deal to take over space that houses the headquarters of BlackRock Inc., according to people familiar with the matter. The 15-year lease is for roughly 400,000 square feet (37,000 square meters) at Park Avenue Plaza, at 55 E. 52nd St., one of the people said. BlackRock is moving west to Hudson Yards in 2023.