Seagram Building. 375 Park Ave.

NEW YORK CITY—Temasek, a Singapore-based global sovereign wealth fund with a portfolio of approximately $197 billion, has expanded its lease by approximately 5,800 square feet to occupy 22,762 square feet at the Seagram Building, located at 375 Park Ave. Temasek had signed its initial lease with RFR Realty in 2013. The terms of the deal were not disclosed but an industry source tells that the asking rent in the building was $185 per square foot.

Temasek recently made headlines as Bloomberg reported last week that the fund with other investors agreed to purchase a $1.1 billion stake in Hainan Airlines. It was part of the restructuring of the Chinese conglomerate HNA Group.

Brian Goldman of Newmark Knight Frank represented Temasek in its expansion negotiations with RFR Realty.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.