M
ichael Bloomberg's media company has given Midtown a boost with a surprise lease extension at 919 Third Ave. The nearly 1 million square-foot deal will keep the company in the building until March 2040.

    Bloomberg signed an 11-year lease extension for its existing 749,035 square feet and added 175,841 square feet on several floors. This move defies claims that "work from home" means smaller corporate footprints, as Bloomberg has steadily grown at 919 Third since moving in 2015.

    The building's high occupancy rate of 92.1% is a rare bright spot in Midtown, where the vacancy rate exceeds 20%. Other major tenants include law firms Schulte Roth & Zabel and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo.

    SL Green, the landlord, has seen significant success with nearly 2.8 million square feet of Manhattan office deals this year. The company expects to complete over 3.3 million square feet by the end of 2024 and is closing in on 1.1 million square feet in potential new leases.

    "This deal highlights the demand for well-located, upgraded, and amenitized buildings," said Steven Durels, executive VP and director of leasing for SL Green. Bloomberg was represented by CBRE's Howard Fiddle and team, while SL Green was represented by CBRE's Robert Alexander and team.