The Real Deal New York

Billionaire’s hedge fund marches into Minskoff’s 51 Astor

Tudor Investment will pay north of $100 psf

December 18, 2014 11:41AM
By Hiten Samtani

From left: Paul Tudor Jones II, 51 Astor Place and Edward Minskoff

From left: Paul Tudor Jones II, 51 Astor Place and Edward Minskoff

Tudor Investment Corporation, a $13 billion hedge fund led by Robin Hood Foundation co-chairman Paul Tudor Jones II, is coming to Edward Minskoff’s 51 Astor Place, The Real Deal has learned.

Tudor will take the entire 11th floor, or about 25,000 feet, at the Fumihiko Maki-designed 12-story, 400,000-square-foot property, located across from Cooper Union on the tip of the East Village. The investment firm will pay triple-digit rents starting at slightly north of $100 per square foot in the 10-year deal, according to data from CompStak.

“They’re a great fund who has a great history and I’m glad they chose us,” Minskoff said. He declined to comment on the financial terms of the deal.

JLL’s Paul Glickman represented Minskoff in the deal, while his colleague Cynthia Wasserberger represented Tudor. The brokers couldn’t immediately be reached for comment.

Claren Road Asset Management, a subsidiary of private equity giant the Carlyle Group, just moved into their new 25,000-square-foot digs atop 51 Astor, Minskoff said. That lease, signed in March, broke the record for the neighborhood’s priciest lease, as TRD reported.

MENU