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Bridgewater Associates Eyes First NYC Office Space
Hedge fund Bridgewater Associates is close to a deal to lease office space in Manhattan, its first U.S. office outside of its headquarters in Westport, CT, reported Bloomberg News. The company plans to take space at 295 Fifth Ave., located between 31st and 30th streets, according to people familiar with the matter.
The deal hasn’t closed, the people told Bloomberg. It’s not clear how much space Bridgewater will occupy at the property or when move-in would occur.
Bridgewater’s headquarters and a majority of its employees would remain in its Connecticut office, Bloomberg reported. The New York office would provide more flexibility on location for some employees.
Although Manhattan’s office market continues to struggle with vacancies, Bloomberg reported that financial industry tenants have been drawn to space at newly developed or renovated office buildings such as 295 Fifth, which is owned by a partnership of Tribeca Investment Group, PGIM Real Estate and Meadow Partners.
- ◦Lease
