Universal Music Group (UMG) has leased new office space at PENN 2, a recently completed office tower along Seventh Avenue in the heart of Midtown Manhattan, adjacent to Madison Square Garden.
Why it matters:
The new offices will serve as the headquarters for Def Jam Recordings, Island Records, Mercury Records and Republic Records.
UMG's merchandise company Bravado and the Verve Label Group (including Verve, Impulse! and Decca Records U.S.) will also be headquartered there.
In addition, it will serve as the East Coast offices for Universal Music Publishing Group and several UMG corporate functions.
UMG is scheduled to relocate in 2027.
A multi-purpose space:
The ground floor will feature a "premium retail space" to serve superfans.
It will boast a new state of the art production facility.
UMG will also be able to showcase its artists on large scale LED signage.
