According to Bloomberg News, hedge fund Bridgewater Associates is in the final stages of securing a lease for office space in Manhattan. This would mark their first U.S. office outside of their headquarters in Westport, CT.
Sources familiar with the matter have revealed that Bridgewater plans to take up space at 295 Fifth Ave., located between 31st and 30th streets. However, the deal has not yet been finalized and details such as the amount of space they will occupy and move-in date are still unknown.
While most of its employees will remain at its Connecticut location, having an office in New York City would offer more flexibility for some staff members. Despite high vacancy rates in Manhattan’s commercial real estate market, financial industry tenants have shown interest in newly developed or renovated buildings like 295 Fifth Ave., which is owned by a partnership consisting of Tribeca Investment Group, PGIM Real Estate and Meadow Partners.
In summary: Hedge fund Bridgewater Associates is close to leasing office space at 295 Fifth Ave., marking their first U.S. location outside of Connecticut headquarters according to Bloomberg News sources. The deal has not yet been finalized but could provide more flexibility for some employees while also aligning with recent trends among financial industry tenants drawn towards newly developed or renovated properties like this one owned by Tribeca Investment Group et al.
