New Index To Track Hedge Fund-Friendly Buildings

May 27 2010 | 3:59am ET

Real estate services firm Jones Lang LaSalle has launched a hedge fund index, tracking not the hedge funds themselves but the office buildings they favor.

The new New York City Hedge Fund Index includes 21 Manhattan buildings that many hedge funds and other financial services firms call home. Among the indexed buildings are such trophy properties as the Seagram Building, Lever House and the IBM Building.

Two of the 21 buildings are full, while nine others offer space if a hedgie is willing to pony up at least $100 per square foot. The priciest among them is 9 West 57th Street, which could cost the gilded hedge fund $180 per square foot.

But for the cost-conscious hedge fund manager, perhaps wary of investor ire, some space is available for as little as $68 per square foot.

“There are still some deals available in trophy buildings,” Jones Lang’s Cynthia Wasserberger told Crain’s New York Business. “Tenants just have to be willing to forgo some of the amenities.”


In Depth

High Time For A Cannabis Hedge Fund?

Sep 30 2014 | 7:07am ET

Launching a hedge fund is always a gamble, but Leslie Bocskor's decision to launch...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.