BXP Inks 230,000 Square Feet of Leases at 360 Park Avenue South, Pushing Midtown South Office Tower Past 90% Occupancy

BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, announced March 16 that it has executed a series of long-term leases totaling approximately 230,000 square feet at 360 Park Avenue South, a 450,000-square-foot office tower in Manhattan's Midtown South submarket. The transactions bring the building to more than 90% leased and include both new tenants and a significant expansion by an existing occupant.

The leases carry a weighted average lease term of 11.4 years and were driven by tenants across financial services, hospitality, media, and AI and technology sectors, according to BXP.

Tenant-by-Tenant Breakdown

The largest single transaction in the round of leasing activity is an expansion by Optiver, a global market maker, which added approximately 92,000 square feet across floors two through five. The expansion brings Optiver's total footprint at 360 Park Avenue South to approximately 115,000 square feet.

Hunter Point Capital, an independent investment firm, leased approximately 46,000 square feet spanning the entire 15th and 16th floors.

Three tenants each signed leases for approximately 23,000 square feet, each occupying a full floor:

• Trexquant, a global quantitative investment manager, leased the entire tenth floor to establish its New York City office. The firm cited plans to use the location as a hub for hiring in quantitative research, software engineering, and trading.
• Betches Media, a female-founded women's entertainment brand, leased the entire sixth floor as its headquarters. The relocation coincides with the company's 15th anniversary.
• Marriott International, Inc., the world's largest hospitality company with more than 9,800 properties globally, leased the entire 14th floor to house New York City-based corporate associates supporting its Luxury Group, global brand public relations, and Riott Haus Creative, the company's in-house creative agency.

Vercel, described as an agentic infrastructure platform, leased the entire ninth floor for approximately 23,000 square feet. BXP noted that Vercel's growth stems from the rise of agentic coding technology, as the company provides tools and infrastructure for AI developers and agents to build and deploy applications. Vercel completed a $300 million Series F funding round in 2025, valuing the company at $9.3 billion.

Office Demand in Midtown South

The leasing round at 360 Park Avenue South reflects demand in New York City's office market, where tenants across industries have sought properties with strong amenity packages and transit access. The building sits at the corner of Park Avenue South and 26th Street, one block from Madison Square Park and equidistant from Grand Central Terminal and Penn Station.

BXP acquired the property in 2021 and subsequently undertook a modernization effort. The building features high ceilings, renovated systems across multiple floors, and amenities including a communal rooftop terrace with skyline views.

"The momentum at 360 Park Avenue South underscores a clear reality that companies are prioritizing best-in-class space in the right locations," said Hilary Spann, Executive Vice President, New York Region, BXP. "In Midtown South, demand continues to center on strong design, flexible amenities, and immediate access to transit and neighborhood energy. 360 Park delivers on those fundamentals—and the market response reflects that."

BXP Leasing and Advisory Teams

The 360 Park Avenue South transactions were led internally by Andrew Levin and Will Stark of BXP. A CBRE advisory team comprising Peter Turchin, Gregg Rothkin, Hayden Pascal, Arkady Smolyansky, Ross Zimbalist, and Trevor Larkin has advised BXP on the lease-up of the building since BXP acquired it in 2021.