Big Hedge Funds’ Volatility Hurting Midtown
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JLL reports HQ Capital recently signed a 32,631-square-foot lease at 1290 Ave. of the Americas.
NEW YORK CITY—Losses incurred by large hedge funds as well as the closure of some significant individual hedge funds are showing signs of affecting rents in the Midtown office market.
Brokerage firm JLL in a report on the hedge fund sector’s impact on the Midtown office market states that volatility in the hedge fund arena is weighing on Class A office landlords there.
“Many large funds ($5 billion and higher in assets under management) are experiencing losses and individual fund closures, and despite the bearish outlook maintained by many analysts and investors, relatively nascent and small funds (less than $5 billion in AUM) attracted 50% of the $76.4-billion invested in 2014,” the report states…
