345 Park Ave. 345 ParkAve.

NEW YORK CITY—Blackstone, one of the world's largest investmentfirms, has signed a seven-year lease expansion at 345 Park Ave.Blackstone will now occupy approximately 575,000 square feet at theMidtown East office tower, expanding by 148,587 square feet. Thisfollows its 426,384 square-foot lease renewal signed in 2014.

The firm has been a tenant at the building since 1988. Under thenew agreement, it will take four additional entire floors. Thisincludes the 14th floor, as well as the 24th through 26th floors.Blackstone now occupies 16 full floors in the skyscraper. Theasking rents at 345 Park Ave. were $125 per square foot.

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Betsy Kim

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