Universal Music Group has leased new office space at Penn 2, Vornado Realty Trust’s recently completed office tower along Seventh Avenue in New York City.
The building in the heart of the Penn District will serve as the headquarters of Def Jam Recordings, Island Records, Mercury Records and Republic Records (all part of the Republic Collective), UMG merchandise company Bravado, and Verve Label Group (including Verve, Impulse! and Decca Records US).
The building will also serve as the East Coast offices for Universal Music Publishing Group as well as several UMG corporate functions.
As part of a 22-year lease, UMG will occupy floors four to seven of Penn 2. UMG will also occupy a ground-floor space along Seventh Avenue for a “future premium retail experience dedicated to serving music superfans in the heart of Manhattan and a private lobby on 33rd Street, which will feature a visitor centre and direct elevator access to its floors”, according to the announcement.
In addition, UMG will have the ability to showcase its artists on large scale LED signage within the Penn district.
The new headquarters will be located within The Bustle, a 430-foot-wide expanse of office space stretching from 31st to 33rd Street on Seventh Avenue. It includes 88,000 square feet of double-height, 23-foot-high office space where UMG will build its New York offices and studio production facilities. There will be exclusive access to more than 3,500 square feet of landscaped outdoor space.
The new production facilities will bolster UMG’s global network of leading recording studios that already includes Abbey Road Studios in London, Capitol Studios in LA and East Iris Studios in Nashville.
Boyd Muir, UMG's chief operating officer, said: “UMG’s relocation of its New York offices to the new Penn 2 Tower reflects our vision and ambition. Located in the heart of Midtown Manhattan and literally adjacent to Madison Square Garden, one of music's most storied venues where so many of our artists perform to a packed house, Penn 2 will serve as an ideal nexus for our employees, artists and songwriters. Beyond office space, Penn 2 will house music studios and retail spaces, featuring a range of artist merchandise and exclusive products. We look forward to working with the team at Vornado as we work towards a 2027 move in date.”
Glen Weiss, executive vice president, office leasing & co-head of real estate of Vornado Realty Trust, said: “We are delighted to welcome Universal Music Group to the Penn district, which has firmly established itself as the epicentre of Manhattan’s new West Side. Universal Music’s commitment to Penn 2 is further evidence of the district’s appeal to the world’s most iconic brands in business, lifestyle and entertainment.”
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