Starting in 2027, Universal Music Group, the world’s biggest music organization, plans to shift its New York offices to the Penn 2 building in Manhattan. The company disclosed this news on Tuesday after securing a lease there.
The freshly established headquarters for UMG’s East Coast Republic Collective – a group that includes Republic, Def Jam, Island Records, and Mercury – will be located in these new offices. Additionally, the offices will accommodate Bravado (UMG’s merchandising division), Verve Music Group, and the eastern regional offices of Universal Music Publishing Group.
UMG’s decision to move its New York offices to the PENN 2 Tower symbolizes our aspirations and forward-thinking mentality,” Boyd Muir, UMG’s chief operating officer, said in a statement. “Situated right in the midst of Midtown Manhattan, next to Madison Square Garden – one of music’s legendary stages where numerous artists from our roster have electrified crowds – the PENN 2 Tower will offer a perfect hub for our staff, musicians, and songwriters.
Muir mentioned that the upcoming office complex will incorporate music studios and retail areas for displaying merchandise from artists. Specifically, these retail spaces will be situated on the ground floor of PENN 2, located on Seventh Avenue. UMG has agreed to a 22-year lease and will occupy floors four through seven in the building, as per their statement.
It’s a pleasure to announce that Universal Music Group has joined THE PENN DISTRICT, a neighborhood that has become Manhattan’s hub on the West Side. As stated by Glen Weiss, executive vice president of office Leasing and co-head of real estate at Vornado Realty Trust, this move underscores the district’s attractiveness to globally recognized brands in business, lifestyle, and entertainment. Universal Music Group’s decision to settle at PENN 2 is a testament to the district’s allure.
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2025-05-21 04:24