Private equity firm Advent International is moving its offices to Manhattan’s Seagram Building.
The company is taking 34,000 square feet of space at the Park Avenue tower, signing a 10-year lease for the entire 14th and 15th floors, according to Bloomberg News. Manhattan’s office market has taken a hit over the past few years as more firms have allowed remote work and sought to cut costs. The drop in demand has left roughly a fifth of New York’s offices available for rent. The Seagram building, at 375 Park Ave., counts Blue Owl Capital Inc. and Centerbridge Partners among its tenants.