Billionaire Hedge Fund Manager Paul Singer Returns to NYC with Major Real Estate Move

Billionaire Hedge Fund Manager Paul Singer Returns to NYC with Major Real Estate Move

Thiago Gomes
2 min read

Billionaire Hedge Fund Manager Paul Singer Returns to NYC with Major Real Estate Move

Billionaire hedge fund manager Paul Singer is making a significant move back to New York City. His firm, Elliott Investment Management, has signed a new lease for 149,000 square feet at 280 Park Avenue, owned by SL Green and Vornado Realty Trust. This comes four years after Singer moved his headquarters to West Palm Beach, Florida, during the pandemic.

Elliott Investment Management is relocating its New York offices from 40 West 57th Street to 280 Park Avenue. The firm will sublease 126,000 square feet from asset manager Franklin Templeton through 2031, with an additional five-year extension option. Additionally, Elliott signed a direct 12-year lease for 23,000 square feet of vacant space on the sixth floor.

Despite the move to Florida, Singer maintained his Midtown Manhattan space and opened an office in Greenwich, Connecticut. The decision to return to New York seems to be influenced by the relocation of key executives, including Singer’s co-chief investment officer and expected successor, Jon Pollock, to South Florida during the pandemic. Singer himself has continued to spend much of his time in the Northeast.

Key Takeaways

  • Elliott Investment Management leases 149,000 SF at 280 Park Avenue.
  • The firm relocates from 40 West 57th Street to 280 Park Avenue.
  • Elliott subleases 126,000 SF from Franklin Templeton through 2031, with a five-year extension.
  • The hedge fund also signs a direct 12-year lease for 23,000 SF on the sixth floor.
  • Elliott's headquarters moved to West Palm Beach but maintains NYC and Greenwich offices.


Paul Singer's return to NYC impacts SL Green, Vornado, and Franklin Templeton, boosting their real estate portfolios. The shift reflects NYC's resilience post-pandemic, attracting financial firms. Short-term, Elliott's move enhances NYC's financial district; long-term, it may spur competition and innovation. Singer's decision likely stems from strategic proximity to financial hubs and key executives' relocation.

Did You Know?

  • Elliott Investment Management:
    • Elliott Investment Management is a prominent hedge fund managed by billionaire Paul Singer. Known for its aggressive investment strategies and activism in corporate governance, the firm has been involved in numerous high-profile corporate battles and restructurings.
  • Subleasing in Commercial Real Estate:
    • Subleasing refers to the process where a tenant in a commercial property leases a portion of their leased space to another party, known as the subtenant. This is common in industries with fluctuating space needs or when a company downsizes but wants to retain some control over its leased space.
  • Newmark and Cushman & Wakefield:
    • Newmark and Cushman & Wakefield are leading global commercial real estate services firms. They provide a range of services including leasing, property management, and investment sales. In this context, they acted as brokers facilitating the lease agreements for Elliott Investment Management and Franklin Templeton.

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