Deal Kicks Off Landslide of New and Expanded Leases Totaling Over 350,000 SF Expected to Close by Year End
Blue Owl Capital, a global alternative asset manager with more than $192 billion in assets under management, has extended its 168,597-square-foot lease on the second through sixth floors by 70,076 square feet to include the 16th-19th floors. The firm will occupy 238,673 square feet at Seagram bringing the building to nearly 100 percent occupancy.
“It’s been a pleasure partnering with Blue Owl over the past two years as they continue to grow and acquire other companies,” said AJ Camhi. “Blue Owl has a definitive appreciation for the history of this iconic building and we are excited to share the same commitment to providing best-in-class service and remarkable experiences as we continue to build on our strong relationship.”
Blue Owl Capital first signed on at Seagram in 2022 with a 137,600-squre-foot lease for floors two though five. As the company expanded, the firm grew in place at Seagram adding 31,597 square feet in 2023. The current expansion to four additional floors brings its total occupancy to 238,673 square feet in a long-term commitment.
Complementing the expansive amenity package at Seagram, the space occupied by Blue Owl on floors two through six boasts two private, 5,000-square-foot outdoor terraces on the fifth floor where employees can eat, socialize and work outside the traditional office setting. The terraces feature lush landscaping, outdoor lighting and seating to accommodate a total of 168 people. The al fresco setting provides an urban retreat with myriad opportunities for daily use while also functioning as a sophisticated venue for large-scale events or client meetings and activities.
“Seagram is an iconic New York city building with world class amenities and a top-notch management and service team,” said Andrew Polland, Blue Owl’s Chief Operating Officer. “Our initial Seagram floors, including our conference centre and employee cafeteria with two adjacent terraces, has been positively received by our team, and has only enhanced the collaborative culture we are focused on maintaining across the firm. RFR has proved to be an excellent partner in supporting our continued growth, as exhibited by this recent, four floor expansion, and we are excited to be the anchor Seagram tenant for many years to come.”
Beyond Seagram’s well-appointed office suites and architectural significance, the robust amenity package is incredibly attractive. The 34,000-square-foot Seagram Playground was completed in 2022 and remains unrivalled in New York representing the future of social and professional well-being through its three primary elements:
- Fitness, with a sports court for basketball, pickleball, floor hockey, volleyball and more; rock climbing wall; HIIT (high impact interval training) area; spin studio; strength training area; and cardiovascular exercise area.
- Wellness, with a Pilates fitness area; stretching area; core strengthening area; and locker rooms with showers.
- Social collaboration, with a townhall featuring bleacher-style seating to accommodate 240 people; modern 40-seat executive boardroom; flex room with dynamic seating configurations for symposiums, training, meetings and more; multipurpose room for music, art, wine tastings, and more; lounge area; and private phone booths.
Access to the Seagram Playground is exclusive to building tenants and complements the building’s longstanding amenity offerings which includes the 11th floor lounge and terrace and the unmatched restaurant and event spaces in The Grill, The Pool, and the Lobster Club.
Looking ahead through Q4 2024, and inclusive of the Blue Owl Capital extension/expansion, Seagram has leasing commitments totalling over 350,000 square feet with well-known and prestigious firms planning to extend, expand or join the tenant roster at Seagram.
The Seagram Building is recognized as one of the world’s greatest architectural masterpieces. The landmarked building designed by the legendary architect Ludwig Mies van der Rohe is his only work in NYC and was completed in collaboration with Philip Johnson.
Blue Owl Capital was represented by Mark Weiss of Cushman and Wakefield while RFR Realty was represented in-house by RFR’s Executive Vice President, Director of Leasing AJ Camhi and Senior Vice President Paul Milunec.
