Fund Manager Moves HQ Back to Manhattan After Florida Relo During Pandemic
Elliott Investment Management has secured a deal for 149,000 square feet at 280 Park Avenue. News of a return of the company’s headquarters comes a few years after relocating to West Palm Beach, Florida during the pandemic, while continuing to maintain an office in Midtown Manhattan. The multiple transaction deal included a 126,000-square-foot sublease through 2031 from Franklin Templeton, followed by a 5-year extension from the landlord; and a separate 12-year lease for 23,000 square feet that will likely expire coterminously with the larger space. Currently located at 40 West 57th Street, the recent signing will result in the fund manager relocating to the 6th through 8th floors within the 43-story tower that spans the entire Park Avenue blockfront between East 48th and 49th Streets. Financial terms of the deal were not available.