NEW YORK CITY-Cushman & Wakefield announced Tuesday that Tiger Management LLC has renewed its lease at 101 Park Ave. The hedge fund has signed a 10-year lease renewal for 79,200 square feet in the 49-story building. Located between 40th and 41st Streets, the building is perhaps best known in commercial real estate circles for Club 101, an event space in the building's lobby that's frequently used for industry gatherings.
A Cushman & Wakefield team led by John Cefaly, executive vice chairman; Gus Field, vice chairman; Clark Finney, senior director and David McBride, senior director, serve as exclusive leasing agent and represented ownership, Kalikow Properties, in the transaction. Martin Horner, managing director, Barbara Winter, EVP and Reid Longley, associate of Jones Lang LaSalle represented the tenant.
Despite the troubles hedge funds had during the recession—and the continuing struggles of the broad financial services sector—such firms seem to be rebounding. Just last week, Two Sigma Investments signed a lease for its sixth swath of office space in Manhattan.
Tiger is a longstanding tenant at 101 Park and will continue to occupy space on the entire 33rd, 47th and 48th floors. “As an original tenant, Tiger has grown from a small investment firm into a world renowned hedge fund,” says Peter Kalikow, developer and owner of 101 Park, in the announcement. “We are proud that the company joins a long list of tenants who have called 101 Park Avenue home from the property's inception.”??
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
