Real Estate
Ares Management Expands Office Space on Manhattan’s Park Avenue
- Asset manager is leasing eight floors at SL Green’s 245 Park
- Financial tenants flocking to area near Grand Central Terminal
Park Avenue in New York.
Photographer: Yuki Iwamura/BloombergThis article is for subscribers only.
Ares Management Corp. is expanding its offices at a building near Manhattan’s Grand Central Terminal, an area that has become a magnet for Wall Street’s biggest players.
The alternative asset manager will occupy the top eight stories of 245 Park Ave., a tower owned by SL Green Realty Corp. and a Mori Trust Co. affiliate, according to an Ares spokesperson. The new lease adds three floors to the firm’s current footprint, providing offices for about 1,150 Ares staff, up from the 698 workers in the building as of May 31.