By Sarah Trefethen
Canyon Capital Partners has consolidated and expanded its space in Carnegie Hall Tower as part of a seven-year lease renewal, according to sources familiar with the transaction.
The Los Angeles-based hedge fund manager will be moving into approximately 8,000 s/f on the 28th floor, relocating from two smaller suites in the building. Asking rent was $97 psf, sources said.
Matt Leon, of Newmark Grubb Knight Frank, and Chip Sealy, director of commercial leasing at TF Cornerstone, representthe building’s owners in negotiations with tenants.
Canyon Capital is represented by Cynthia Wasserberger and Randy Abend of Jones Lang LaSalle.
The brokers could not be reached for comment.
Canyon Capital and its affiliates manage approximately $19 billion in assets, including two of the top 35 funds on Bloomberg Markets Magazine’s current list of top-performing hedge funds.
Founders Joshua Friedman and Mitchell Julis worked together at Drexel Burnham Lambert before launching Canyon in 1990. The company also has a London office.
The 60-story Carnegie Hall Tower, adjoining the legendary music venue at 152 West 57th Street, is famed for its Central Park views.