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Cerberus Expands Lease at 875 Third Ave.

The private investment firm rents additional space to occupy a total of 132,000 square feet in the East Midtown tower.

875 Third Ave. Cerberus renews and expands its lease at 875 Third Ave.

NEW YORK CITY—Global Holdings has renewed and expanded a lease with Cerberus Capital Management at 875 Third Ave. in a significant, long-term deal, according to a person with knowledge of the transaction. The New York City-based private equity firm, which with affiliates manages over $30 billion, is staying in its office location, renting an additional 12,000 square feet. This brings the company’s total footprint in the East Midtown tower to 132,000 square feet.

GlobeSt.com learned that Newmark Knight Frank’s David Falk, Eric Cagner and Jason Greenstein represented Cerberus. The firm declined to comment on the transaction.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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