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Fund signs triple-digit lease at Carnegie Hall Tower

By Linda O’Flanagan

Two of the brains behind a $17 billion dollar private equity business sold to Apollo in 2012 have leased triple-digit offices at Carnegie Hall Tower.

Sources say Anthony Edson and William Sheoris, two of the original founders of Stone Tower Capital, have signed a lease for an approximately 5,000 s/f pre-built office on the 27th floor at the famed tower for their new hedge fund, Fair Oaks Capital, in the Plaza District building owned by TF Cornerstone.

Edson and Sheoris started their hugely successful Stone Tower Capital with a 4,500 s/f space in the base of Carnegie Hall Tower in 2003.

CARNEGIE HALL TOWER
CARNEGIE HALL TOWER

As their business managing assets for institutional, high-net-worth and family office clients boomed, their occupancy ballooned to 30,000 s/f in the tower before the company was acquired by Apollo and moved to 9 West 57th Street.

Matt Leon, executive managing director at Newmark Grubb Knight Frank, became real estate advisor to Edson and Sheoris during their first stay at Carnegie Hall Tower and while he wouldn’t comment on the deal, he did confirm that he took his long standing clients to see several high-profile properties before they returned to Carnegie Hall Tower for their new venture.

“What you tend to find with private equity firms and hedge funds is that they attach, in some manner, their good fortune to their experiences in a building. At Carnegie, we have some tenants who reluctantly leave but often, when they can, come quickly back”

Sources say this is the fourth deal at or north of $100 psf signed at Carnegie Hall Tower this year as TF Cornerstone has introduced a new line of high-end, all glass pre-built suites with café pantries and state of the art amenities and finishes.

Leon, who has become one of the city’s most accomplished deal-makers, has helped keep the tower virtually full for the past 13-years in partnership with a TF Cornerstone team. He attributes the success not so much to karma as good ownership, a pro-active approach and striking spaces. “We have a very sophisticated tenancy here and an owner who always embraces their tenants needs. “

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