01:12 PM EDT, 06/12/2024 (MT Newswires) -- (Updates with Blackstone comment in third paragraph.)

Blackstone (BX) is nearing a deal to expand its Manhattan headquarters space to 1.06 million square feet, Bloomberg reported Wednesday, citing a person familiar with the matter.

The potential deal would extend Blackstone's lease at Rudin's 345 Park Avenue through the end of 2034, and the firm would occupy 55% of the building, the report said.

"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 email to MT Newswires."We are excited that 345 Park Avenue will remain our global headquarters."

Rudin didn't immediately respond to a request for comment from MT Newswires.

Blackstone shares rose 5.2% in recent trading Wednesday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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