NEW YORK CITY-Two Sigma Investments is expanding its operations, signing a lease for approximately 60,000 square feet at 101 Sixth Ave.
The hedge fund manager, which has nearly $14 billion in assets under management, also has space across the street and in three buildings on Spring Street and West Broadway, according to the Wall Street Journal.
The building at 101 Sixth Ave. is now 88% leased, according to building owner Edward Minskoff.
The property was developed in 1990 and Minskoff spent $18 million on renovations that included a new lobby and elevator cabs.
Financial firms, such as Two Sigma, are moving to areas outside of the financial district because top executives in the industry are now choosing to reside in neighborhoods like Soho and Tribeca. "They prefer to live in Midtown South and downtown now," says Paul Glickman, a vice chairman at Jones Lang LaSalle, who represented Minskoff in the transaction. He adds that some top executives at these firms want to “work where they live." See story in the Wall Street Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
