Hedge Fund Office Spaces

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High-End Penthouse Opportunity in Manhattan’s Midtown South

Picture of Lance Leighton

Lance Leighton

New to the Market: Fully Built and Furnished Installation at 51 Astor Place

As more principals of venture capital firms and hedge funds get younger, the Midtown South submarket has seen increased popularity as these folks want to work closer to their residences. The downside of pursuing space in this market is the lack of new construction and Class-A office product compared to Midtown, Downtown and the West Side. 51 Astor Place, however, was completed in 2013. It is a modern, state of the art office building that rarely has any vacancy until now. The entire penthouse floor was recently constructed, shows extremely well, and is fully furnished.

The penthouse is located on the 12th floor and measures 25,401 square feet. It is currently built with a mixture of offices and open area. The workspace has 18 foot exposed ceilings, hardwood flooring, glass-fronted offices, and expansive panoramic views of Manhattan. It has fantastic amenities like a full gym with both men’s and women’s locker rooms and a full commercial kitchen that fosters collaboration and team-building. The space was only built out 2 years ago and has an asking rent of $120 per square foot.

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