SAC Nears Deal For New N.Y. Digs

Apr 1 2011 | 12:06pm ET

SAC Capital Advisors may have a new home in Manhattan. The hedge fund giant is nearing a deal to take over four floors of a newly-constructed building at Madison Avenue and 53rd Street, a couple of blocks south of its current New York office.

The deal, in the works for some time but held up by SAC founder Steven Cohen's legal battle with his ex-wife, The New York Observer reports, could be signed within days. Patricia Cohen's lawsuit, accusing her ex-husband of perjury and insider-trading, was dismissed this week.

If it is, SAC will take up residence on the second through fifth floors of 510 Madison Avenue, some 66,000 square feet. The 30-story building currently has just one other tenant, hedge fund Senator Investment Group, which occupies the 28th floor.

It is unclear how much SAC would pay at 510 Madison; Senator pays in excess of $100 per square foot. But the Observer says the deal could win SAC naming rights for the glittering new glass building.

SAC is currently spread over several floors at 540 Madison Avenue.


In Depth

Q&A: Pantheon’s McCrary Says Private Equity Market ‘Robust’

Dec 17 2014 | 8:32am ET

Dennis McCrary is a partner at Pantheon, a private equity firm with $32.2 billion...

Lifestyle

Cohen Donates $1.5M To GOP Governors Association

Dec 10 2014 | 7:13am ET

The Republican Governors Association raised close to $25 million from October 1...

Guest Contributor

Q&A With Daniel Gallancy: Institutional Interest In Bitcoin Is Growing Steadily

Dec 12 2014 | 7:54am ET

Daniel Gallancy is founder and CEO of SolidX, a provider of total return swaps for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

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.