Michael Price’s Hedge Fund Leases Space on Third Avenue

Michael Price’s hedge fund MFP Investors has signed a lease for the partial 33rd floor at Vornado Realty Trust‘s 909 Third Avenue. MFP will take possession of the space in the summer of 2017 relocating from The Hartz Group‘s 667 Madison Avenue, where it had offices for roughly a decade. The new unit on Third Avenue will measure 10,883 square feet.

Michael Price started his career in finance in 1975 at Heine Securities. By 1988 he was the sole owner of the company and had sold it to Franklin Securities for $670 million by 1996. MFP investors uses a value investing approach with a mix of contrarianism thrown in.

909 Third Avenue is Vornado Realty Trust’s only office building on Third Avenue. It was designed by Emery Roth & Sons and has achieved LEED Gold Certification. It has about 1.3 million square feet of space and its major tenants are Interpublic Group of Companies, United States Postal Service, and Geller & Company LLC.

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