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New York & Tri-State  + Midtown New York  + Office  |  February 21, 2022
Citadel is considering more office space in Manhattan locations such as 425 Park Ave., where it's the anchor tenant
Paul Bubny
By: Paul Bubny

Citadel Seeks More Manhattan Office Space 

Ken Griffin’s Citadel is looking for more office space in Manhattan to accommodate a growing roster of New York employees, Bloomberg News reported. 

The Chicago-based hedge fund, with several Manhattan locations already, is in talks to lease additional office space at L&L Holding Company’s forthcoming 425 Park Ave., where it’s the anchor tenant, and at Olayan Group’s 550 Madison Ave. 

Citadel increased its headcount during the pandemic and is expected to continue hiring aggressively over the next several years, with a focus on New York, a source told Bloomberg. 

Griffin has been looking to Manhattan in recent years as he expands beyond Chicago. In 2019, he bought a penthouse at 220 Central Park South for $238 million, setting a U.S. record for a residential purchase. 

Citadel signed as the anchor tenant at 425 Park in 2016 and added to its space there before the pandemic.  

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L&L Holding

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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