Which Are the Most Desirable NYC Office Buildings for Hedge Funds?

Which Are the Most Desirable NYC Office Buildings for Hedge Funds?

New York City is the world’s top financial center, surpassing even London and Hong Kong on the Global Financial Centers Index. Some of the top hedge funds in the country are headquartered in the borough, including Millennium Management, BlackRock, and D.E. Shaw & Co. These companies have traditionally been drawn to Midtown’s Plaza District, the financial heart of the city and home to some of the most iconic office buildings in the world, like the Empire State Building and the Woolworth Building

Hedge funds operate in top-notch, Class A office buildings in prestigious locations offering the best possible amenities. The building needs to be owned and operated by a financially stable landlord who will maintain and upgrade the property consistently over the long term. Hedge fund tenants require ample office space to conduct their business, and they usually sign long-term, multiple-floor leases. They prefer spaces on upper floors that offer spectacular views and abundant natural light to appeal to clients, partners, and staff. The building will also require the highest level of security and should incorporate backup power generators, state-of-the-art HVAC systems with MERV 3 filtration, 24/7 secure access, parking, and access to an on-site or nearby upscale restaurant for business lunch meetings. 

The best Manhattan neighborhoods and office buildings for hedge funds

The biggest hedge funds in the city are headquartered in Midtown Manhattan. Smaller, younger firms, however, are open to Midtown South neighborhoods and Downtown Manhattan, but at the end of the day, all hedge funds, either large or small, want to be in a state-of-the-art, Class A office building. Below, we’ll go over some of Manhattan’s most desirable neighborhoods and buildings that are ideal for hedge funds. 

One World Trade Center

Lower Manhattan

The Class A, 3.1 million-square-foot One World Trade Center is one of the tallest office buildings in the world, and it was completed in 2014 with a design by David Childs. The first tenant to move into the Lower Manhattan building was Conde Nast, which was soon joined by Moody’s, CBS, Cushman & Wakefield, ValueWorks, and Reddit, among many others. Amenities include 24-hour access, floor-to-ceiling windows, column-free office space, state-of-the-art building infrastructure, and direct access to public transportation. The building also boasts LEED Gold certification for its sustainable features. There are currently several office spaces available for lease, ranging from 5,000 to 48,000 square feet. 

7 World Trade Center

Lower Manhattan

The 1.7 million-square-foot 7 World Trade Center is another great option for hedge funds looking to lease Class A office space in Lower Manhattan. The 2006-built tower features a modern lobby, expansive views of Manhattan, on-site management, and LEED Platinum certification for its environmentally friendly amenities. The 7 WTC skyscraper also offers easy access to nearly every New York City Subway and PATH lines. Tenants include Moody’s, Skidmore, Owings & Merrill, Moët Hennessy USA, Capstone Investment Advisors, and Generali, among others. Businesses can rent fully built-out space, as well as shell space, ranging from 50 to 60,700 square feet in size. There are currently roughly six available spaces for lease, with amenities like exposed ceilings, floor-to-ceiling windows, conference rooms, and tenants have the opportunity to upgrade or downgrade the space as they wish. 

One Vanderbilt

Midtown Manhattan

One of the latest additions to the Manhattan skyline, One Vanderbilt is a Class A property delivering 1.8 million square feet of office space in the Grand Central submarket of Midtown Manhattan. Completed in 2020, the tower is located right next to Grand Central Terminal, connecting tenants to all parts of the city. Its tenant roster includes Sentinel, TD Bank, Greenberg Traurig, The Carlyle Group, and Stone Ridge Asset Management. One Vanderbilt incorporates 30,000 square feet of tenant-exclusive amenities, an outdoor terrace with views of Grand Central, a club-style lounge, and the world-class restaurant Le Pavilion. There are currently four spaces available for rent, ranging from 5,500 to 25,000 square feet, featuring amenities such as conference and meeting areas, floor-to-ceiling windows, column-free spaces, and state-of-the-art HVAC, among others. 

300 Park Avenue | Colgate-Palmolive Building

Midtown Manhattan

The Class A, 773,056-square-foot Colgate-Palmolive Building was designed by Emery, Roth & Sons and completed in 1955. It sits right across the street from the Waldorf Astoria, and close to Grand Central Terminal, in the Park Avenue submarket of Midtown. The building features a renovated lobby, a new fire alarm and HVAC system, high-performance windows, 24-hour security, a conference center, a messenger center, and ground-floor retail. Tenants include GoldenTree Asset Management, Madison International Realty, and Chilton Investment Company, among many others. There are currently seven office spaces available for rent, ranging from 4,000 to 40,500 square feet. 

610 Broadway

Midtown South

The 130,000-square-foot Soho office building at 610 Broadway was completed in 2004, and features amenities such as floor-to-ceiling windows, exposed ceiling and polished concrete floors, abundant natural light, on-site parking garage, and a boutique, attended lobby. Located at the corner of Crosby Street, West Houston Street, and Broadway in Midtown South, 610 Broadway is the newest office development in the area, and is home to Anchorage Advisors LLC and Adidas. There is one office space available in the building, totaling 17,000 square feet, in white-box condition. 

399 Park Avenue

Midtown Manhattan

Spanning a full city block between Park Avenue and Lexington Avenue and 53rd Street and 54th Street, 399 Park Avenue features 1.5 million square feet of Class A office space. It was renovated in 2019, and features amenities like 24/7 access, on-site property management, LEEd Silver certification, and an expansive private rooftop terrace. The Midtown Manhattan property also incorporates a modern, through-block lobby and a large full-block base. Tenants at the building include Millennium Management, Boston Properties, Citigroup, Epoch Investment Partners, Morgan Stanley, and Savills. There are three available office spaces, ranging from 9,900 to 25,000 square feet in size. 

600 Fifth Avenue | Rockefeller Center

Midtown Manhattan

The 26-story, Class A property at 600 Fifth Avenue in Midtown Manhattan was completed in 1952 and features 437,599 square feet of office space for lease. Tenants, which include Adams Street Partners, Rockwood Equity Partners LLC, Sumitomo, and Ryan LLC, enjoy 24-hour access, an attended lobby, 24-hour elevators, a 320-car commercial garage, sprinkler systems and electronic fire alarm system. There is also an underground shopping concourse that connects to other buildings in the Rockefeller Center complex. There are six office spaces available for rent, ranging from 867 to 7,900 square feet. 

1166 Avenue of the Americas

Midtown Manhattan

The 1.6 million-square-foot tower at 1166 Avenue of the Americas, or 1166 Times Square, was completed in 1974 and renovated in 2017. It features Class A Rockefeller Center office space and amenities such as 24-hour access, an atrium and a courtyard, food service, on-site management, conference space, and abundant natural light. Tenants include Skadden, Invesco, and D.E. Shaw & Company.  There are currently ten office spaces available for lease, ranging from 6,000 to more than 40,000 square feet in size.

Other office buildings suitable for hedge funds in Manhattan

The Plaza District | Midtown Manhattan

  • 40 East 52nd Street – home to BlackRock
  • 520 Madison Avenue – home to Davidson Kempner Capital Management
  • 40 West 57th Street – home to Elliott Management
  • Bloomberg Building | 731 Lexington Avenue 
  • 425 Park Avenue
  • 510 Madison Avenue
  • Solow Building | 9 West 57th Street

Times Square | Midtown Manhattan

  • 5 Times Square
  • 7 Times Square
  • 11 Times Square
  • 620 Eighth Avenue 
  • 55 West 46th Street | Tower 46

Grand Central | Midtown Manhattan

Hudson Yards | Midtown Manhattan

World Trade Center | Downtown Manhattan

Financial District | Downtown Manhattan

  • 17 State Street

Are you thinking of setting up your business in a convenient location in Manhattan? Are you looking to lease space in a modern building offering state-of-the-art amenities? To learn about available office or retail space, call Metro Manhattan Office Space at (212) 444-2241 or email us at info@metro-manhattan.com

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