Hedge Funds Still Prefer Plaza District Office Space
In the past couple of days, there have been two notable articles pertaining to hedge fund office spaces. “Hedge Funds’ Manhattan Migration”, by Juliet Chung, was in yesterday’s Wall Street Journal and touches on why funds tend to migrate to Midtown- primarily the “golden rectangle.” (click here for a link) According to Chung, the geographic region between Third and Seventh Avenues and from 42nd to 62nd Streets remain the prime location for fundraising, affordability and accessibility.
The second article, titled “New Hedge Funds Flock to New York City“, was posted on the FIN Alternatives website. The article reaffirms the notion that NYC is apparently the place to be for startup funds. According to the website’s article and eVestment, “between 2009 and 2010, Manhattan accounted for a startling 92% of hedge fund launches among new firms choosing between it, Greenwich, Conn., and Stamford, Connecticut.”
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There are other reasons that might also influence a hedge fund with their office space decisions. Here is a link to the “Top 5 Reasons Why Hedge Funds Choose to be in Specific Buildings and Neighborhoods”.