Hedge fund Canyon Partners and art gallery D. Wigmore Fine Art have signed leases at TF Cornerstone’s Carnegie Hall Tower on Manhattan’s “Billionaire’s Row.”
Los Angeles-based Canyon Partners is expanding to take an entire floor at the 60-story tower. Canyon, which specializes in investments for endowments, foundations and sovereign wealth funds, is adding 3,000 s/f to its space on the building’s 28th floor. This is not the first time that the company has expanded its footprint in the building. In 2013, Canyon signed a seven-year renewal for approximately 8,000 s/f. The firm previously operated out of two smaller suites. Asking rents for the expansion was $100 per s/f.
Meanwhile, D. Wigmore Fine Art signed a ten-year, 4,000 s/f lease. The firm will occupy a portion of the building’s third floor. It will use the space, which has 18-foot ceilings, as a showroom. Asking rent was $70 per s/f.
Carnegie Hall Tower, located at 152 West 57th Street, was built in the late 1980s. TF Cornerstone closed on a $325 million loan for the property earlier this year. Other tenants in the building include the New York City Opera, asset management firm Scopia Capital, Kingdon Capital, Greystone & Company and Wolverine Worldwide.
Matt Leon, an executive managing director at NKF, represents ownership in lease negotiations. He was unavailable for comment.