Billionaire Paul Singer’s hedge fund signs 149,000 square feet at 280 Park Avenue

Four years after moving his company headquarters to Florida, billionaire hedge fund manager Paul Singer is now increasingly focusing on New York City.

According to sources, Singer’s Elliott Investment Management has signed a new 149,000-square-foot lease with SL Green and Vornado Realty Trust at 280 Park Avenue. The company will relocate its New York offices to New York from its current location at LeFrak’s 40 West 57th Street.

The $66 billion hedge fund will sublease 126,000 square feet on the sixth, seventh and eighth floors from asset manager Franklin Templeton through 2031, followed by a five-year extension from the landlord. It also signed a direct 12-year lease for 23,000 square feet of vacant space on the sixth floor, the source said.

Singer’s hedge fund moved its headquarters to West Palm Beach during the pandemic, but retained its Midtown premises and opened an office in Greenwich, Connecticut.

A key reason for the move appeared to be that Singer’s co-chief investment officer and likely successor Jon Pollock and other senior executives moved to South Florida during the pandemic, Bloomberg reported at the time.

Singer himself continued to spend most of his time in the Northeast, including in his Upper West Side apartment, the New York Times reported.

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A Newmark team, including Neil Goldmacher and Chris Mongeluzo, represented Elliott Management in the deal. Robert Lowe of Cushman & Wakefield represented Franklin Templeton. A Vornado team led by Edward Riguardi and Alexandra Bedell represented the landlord in-house.

Elliott Management did not immediately respond to a request for comment.