Bloomberg is doubling down on Midtown East.
The media and data giant inked a nearly 500,000-square-foot lease extension at Global Holdings’ 120 Park Avenue, locking in space across 20 of the 26-story tower’s floors, the landlord announced. The renewal ranks as the largest office lease of the fourth quarter and one of 2025’s largest overall.
The new 11-year deal replaces Bloomberg’s prior lease, which wasn’t set to expire until 2029, and keeps the company anchored across Midtown East. Bloomberg first moved into the building in 2011 and now occupies the majority of the Class A tower, which sits across from Grand Central Terminal between East 41st and East 42nd streets. Asking rent was $135 per square foot, per Crain’s, which first reported the deal.
The Park Avenue renewal is the latest move in Bloomberg’s Midtown East expansion spree. Last year, the company extended its 947,000-square-foot lease for the entirety of 731 Lexington Avenue’s office space through 2040. That building, owned by Alexander’s, is home to Bloomberg’s headquarters and 7,000 of its 12,000 New York-based employees. Bloomberg also signed a lease to expand its footprint at SL Green’s 919 Third Avenue to nearly 925,000 square feet, up from 749,000 square feet at the property.
The Park Avenue extension comes as Eyal Ofer’s firm rolls out a slate of capital improvements at the nearly century-old tower. Planned upgrades include a revamped lobby, elevator modernization and façade renovations.
CBRE’s Howard Fiddle, Chris Mansfield and Zachary Weil represented Bloomberg in the deal. Global Holdings was represented in-house by Chris Roth, Craig Panzirer and Alex Radmin, along with JLL’s Paul Glickman and Diana Biasotti.
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