Alexander's gives Bloomberg $56.8 million rent abatement in 2026 lease amendment
Alexander's subsidiary 731 Office One LLC agreed on March 31, 2026 to a Tenth Amendment of Bloomberg L.P.'s lease at the 731 Lexington Avenue property. Bloomberg receives a $56,808,900 rent abatement for April 1 to December 1, 2026, and its tenant improvement fund is cut by the same amount, from $113,617,800 to $56,808,900. A related loan amendment uses a free rent reserve to cover Bloomberg's monthly base rent for debt service during the abatement period, while Bloomberg's February 8, 2040 lease expiration and full-building lease are unchanged.
Key points
- Rent abatement of $56,808,900 covers April 1, 2026 to December 1, 2026.
- Bloomberg's tenant fund for improvements falls from $113,617,800 to $56,808,900.
- Loan amendment sets up a free rent reserve of $56,808,900, of which about $53.9 million was already held in a lender reserve account.
- Bloomberg's lease expiration remains February 8, 2040, and it continues to lease the entire office condominium.
The filing
Written by AI on Nov 9, 2026, 8:51 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 31, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.