(Bloomberg) -- Blackstone Inc. is finalizing a deal to expand its Manhattan headquarters space in one of the city’s largest office leases in recent years. 

The money manager’s total leased space would increase to 1.06 million square feet (98,500 square meters) at Rudin’s 345 Park Ave., according to a person familiar with the matter. The deal would also extend Blackstone’s lease at the skyscraper through the end of 2034, the person said, asking not to be named citing private discussions. 

With the new lease terms, Blackstone will occupy roughly 55% of the building spanning 28 floors, up from 42% today, the person said. The deal is expected to include efforts to expand and enhance the facilities with amenities such as a fitness center.  

“We are expanding our commitment to our New York-based workforce, midtown Manhattan and New York City with this extension,” a Blackstone spokesperson said in an emailed statement. “We are excited that 345 Park Ave. will remain our global headquarters.”

Business Insider earlier reported the lease details.

Blackstone has been taking more office space in New York. The firm more than doubled its space at 601 Lexington Ave. in 2022 and also expanded at 345 Park Ave. a year before that.

The private equity firm has been at its headquarters since 1988, when it started with two floors spanning 70,000 square feet. The firm has a total of 1.4 million square feet in New York, across 345 Park Ave. and 601 Lexington Ave. 

“For over 30 years, Blackstone has proudly maintained its global headquarters at 345 Park Ave., and we look forward to continuing this strong partnership,” a Rudin spokesperson said. “The decision of a premier financial services firm such as Blackstone to extend and expand its footprint is a testament to the long-term resiliency of New York City.”

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