The Real Deal New York

Fair Oaks Capital inks starter space in Carnegie Hall Tower

Stone Tower Capital founders launch new venture near their old space
May 28, 2014 01:45PM

Anthony Edson and William Sheoris, two of the founders of hedge fund Stone Tower Capital, have inked a 5,000-square-foot space on the 27th floor of the Carnegie Hall Tower for their new venture, Fair Oaks Capital.

The new hedge fund will set up shop above the duo’s original Stone Tower space at 152 West 57th Street, which snagged a 4,500-square-foot space in the tower’s base back in 2003. That spread eventually expanded to 30,000 square feet before the company was acquired by Apollo in 2012 and relocated to 9 West 57th Street.

Matt Leon of commercial brokerage Newmark Grubb Knight Frank, longtime real estate advisor to the pair, worked with Edson and Sheoris on the deal.

“What you tend to find with private equity firms and hedge funds is that they attach, in some manner, their good fortune to their experiences in the building,” Leon told Real Estate Weekly. “At Carnegie, we have some tenants who reluctantly leave but often, when they can, come quickly back.”

The deal marks the court deal at or above $100 per square foot signed at Carnegie Tower this year, sources told REW, which comes amid TF Cornerstone’s introduction of new high-end, all-glass pre-built suites with pantries, state-of-the-art amenities and finishes. [REW]Julie Strickland