Reported 3 months ago
Ares Management Corp. is expanding its offices at a building near Manhattan’s Grand Central Terminal, with a new lease adding three floors to accommodate about 1,150 staff members. The office location on Park Avenue near Grand Central has become a desirable US office submarket, with JPMorgan Chase & Co. and other major players also increasing their presence in the area. Asking rents in Midtown averaged $83.54 per square foot in June, higher than the Manhattan average of $77.65 per square foot.
Source: YAHOO