Hedge Funds Ponying Up for Trophy Assets


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JLL managing director Cynthia Wasserberger

NEW YORK CITY—Hedge funds are paying in excess of $100-per-square-foot for prime properties in Manhattan and for the pricier assets are forking over more than $200-a-square-foot.

According to a report by brokerage firm JLL on hedge fund activity in New York City, the direct average “high asking rent” for hedge funds and financial service firms is $147.19-per-square-foot, which is a 2% increase from its last hedge fund index report released in April. JLL tracks 24 trophy buildings in Manhattan that have a high concentration of boutique hedge fund, investment management and financial services tenants…


Hedge Funds Ponying Up for Trophy Assets

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