An alternative investment firm is staying put at its office in Midtown East, Commercial Observer has learned.

Cerberus Capital Management, which invests in credit, private equity and real estate, has renewed its 131,000-square-foot lease at Global Holdings’ 875 Third Avenue in a long-term commitment to the building it has called its headquarters since 2011.

The landlord did not disclose the asking rent for the building or the length of the lease, but the average office asking rent in Midtown was $86.55 per square foot in May, according to a report from CBRE.

“Global Holdings is committed to creating high-quality office environments where leading companies like Cerberus can thrive,” Alexander Radmin, director of leasing for Global Holdings, said in a statement. “Having Cerberus continue to commit long term at 875 Third Avenue strengthens the building’s community of best-in-class tenants.”

Radmin negotiated on behalf of the landlord in-house, while Newmark’s Jason Greenstein, David Falk and Eric Cagner handled the deal for Cerberus.

Newmark did not immediately respond to a request for comment.

Cerberus originally took 110,000 square feet when it moved into 875 Third Avenue in 2011, slowly growing its footprint to 119,000 square feet before making the jump to 131,000 square feet in 2018.

The deal brings the building between East 52nd and East 53rd streets to 97 percent occupancy, helped along by coworking firm Industrious partnering with the Eyal Ofer-led Global Holdings in May to operate 28,000 square feet.

In May 2025, nonprofit think tank The Conference Board took 30,171 square feet, and the New York Compensation Insurance Rating Board committed to a space about the same size in July 2023.

Mark Hallum can be reached at mhallum@commercialobserver.com.