Wednesday, 1 October 2014
Last updated 34 min ago
Jun 28 2011 | 12:05pm ET
One of the U.S.'s largest homebuilders has its eye once again on "hedge fund Johnny."
Toll Brothers, perhaps best known for its suburban and exurban "McMansions," is planning a new residential unit in Manhattan's East Village more than four years after it opened its first Manhattan condominium. At the time, the company's CEO said it was going after "hedge fund Johnny," a Wall Street type who didn't want to move to the suburbs.
Unfortunately for Toll Brothers, the timing wasn't right, coming just before the financial crisis that wracked Wall Street. The company was forced to cut prices on new towers it had built in Brooklyn two years ago, and then-CEO Bob Toll said he expected to avoid New York City for a few years.
But with the financial sector bouncing back, Toll Brothers has snagged a site near Gramercy Park, at Third Avenue and East 22nd Street, that had been foreclosed on for $35.5 million. The original developers had hoped to put up a 20-story, 144,000-square-foot condo; Toll's tower will be one story higher and 44,000 square feet smaller.
Construction could start next year.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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…
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...