Global alternative investment manager Centerbridge Partners is expanding its New York headquarters with a planned relocation across the street from its current home.
Centerbridge signed a 15-year lease spanning 75,826 square feet across the entire 22nd and 23rd floors of 345 Park Ave., landlord Rudin said. Centerbridge, which celebrated its 20th anniversary last year, is planning to move across 52nd Street in the second quarter of 2027 from the Seagram Building at 375 Park Ave.
The deal comes as the firm is said to be in talks to buy a stake in Baltimore-based Merritt Properties from a real estate investment arm of Neuberger Berman, the Financial Times reported, citing unidentified sources.
Centerbridge and Neuberger Berman didn't respond to CoStar News requests seeking comment. Merritt declined to comment.
A spokesperson for Rudin declined to specify terms of the Park Avenue deal.
Developed by Rudin and completed in 1969, the 1.9 million-square-foot, 44-story tower counts among other tenants private equity giant Blackstone, the NFL and law firm Loeb and Loeb.
The lease comes as Rudin is creating 45,000 square feet of new amenities at the property to include a tenant-exclusive lounge and a high-end gym and wellness center. Separately, French chef and TV personality Cyril Lignac, along with hospitality group D.ream International, has signed for about 22,000 square feet of ground‑floor space for three dining concepts, including Bar des Prés, Lignac’s Franco‑East Asian restaurant.
“With the continued expansion of our firm, we are excited to be nearly doubling our footprint in midtown Manhattan,” Centerbridge Chief Financial Officer Kimberly Terjanian said in statement. The new space will “provide new first-class amenities and an elevated experience” for its employees, she said.
Centerbridge manages about $47 billion in assets, including a real estate portfolio. For example, in 2023, the firm and its partners took private industrial REIT INDUS Realty Trust. In 2024, Centerbridge and Suntex Marina Investors, billed as the largest standalone marina owner in the United States, formed a joint venture to buy more than $1.25 billion in new marinas nationwide.
For the record
Robert Steinman, senior vice president of office leasing, represented Rudin in house. Newmark Chairman of National Tenant Representation Neil Goldmacher, Executive Vice Chairman Brian Goldman and Senior Managing Director Matthew Lorberbaum represented Centerbridge.