We are pleased to announce that our client, Ares Management Corporation, has extended and expanded its office lease at 245 Park Avenue for a fifteen-year term, increasing its footprint from approximately 175,000 RSF to 307,000 RSF.

Ares Management was represented by Scott Newmark, Partner and Co-Chair of MSF’s Real Estate Group, in one of the largest office lease transactions in New York City this year. Scott is active in all aspects of the firm’s real estate practice, including sales and acquisitions, leasing, financing, loan workouts and deal restructuring, and condominium and cooperative offerings. His clients range from institutional property owners, developers, and tenants to first-time purchasers and lessees seeking his strategic guidance. His real estate insight is also leveraged by MSF’s litigators to analyze claims and defenses in complex real estate litigation matters.

This significant expansion underscores Ares Management’s continued growth and long-term commitment to Midtown Manhattan. Congratulations to Ares Management on this milestone and to Scott Newmark for his leadership in successfully guiding this transaction to completion.