ARK Investment is trading its New York City office this fall for new headquarters in St. Petersburg, Florida.
The investment firm, which specializes in disruptive innovation, announced Wednesday it’s set to close its New York headquarters Oct. 31 and make the move official Nov. 1.
“We are thrilled to relocate our corporate headquarters to St. Petersburg, Florida, as we believe the Tampa Bay region’s talent, innovative spirit, and quality of life will accelerate our growth initiatives,” founder and CEO Cathie Wood said in a press release.
The company has occupied the seventh floor of 3 East 28th Street. It’s not immediately clear how much space the company is vacating, but One Madison Group’s lease of the building’s entire eighth floor is for 5,575 square feet.
Wood’s profile as an investor skyrocketed in the past year. Bloomberg noted the company’s flagship product returned nearly 150 percent during 2020.
The company’s new headquarters will not be its only real estate investment in Florida. The ARK Innovation Center, a 45,000-square-foot incubator, is slated to break ground in the first quarter of next year and to open in July 2023. The company said it believes the incubator will help create more than 1,200 jobs by 2026.
“Our relocation and the ARK Innovation Center will allow us to be more innovative and to impact the broader community while shining a spotlight on the technological advances and creativity permeating the Tampa Bay region,” Wood said.
Some New York City–based investment firms started turning their attention to the Sunshine State last year. The Blackstone Group, Goldman Sachs and Paul Singer’s Elliott Investment Management were among the companies that planned to open offices in South Florida.