Wednesday, February 21, 2018

Report: Financial firm takes the Death Star penthouse

A quick note about a new tenant at 51 Astor Place/IBM Watson Building/Death Star at Third Avenue and Ninth Street.

Los Weiss at the Post has the story.


CBAM Partners, a fast-growing financial firm with $6.8 billion under management, is moving from Hudson Yards to 51 Astor Place, where it will have a dramatic 12th-floor penthouse of 25,401 square feet.

And what of the previous 12th-floor tenant?

Its former occupant, Claren Road Asset Management, was a financial darling, but in 2015, it was rocked by billions of dollars in redemptions. The following year, backer Carlyle handed back its 55 percent stake to the founders. Claren Road’s market value was down to $891,000 last fall.

Sources said the company gave back the space to 51 Astor developer Edward J. Minskoff Equities...


Gojira said...

There is no way any of those words or corporations in the Post article should be associated with the East Village. Sorry, but that is MHO.

Brian said...

The Death Star is a big visual black hole in Astor Place. Maybe if a few financial companies fail in it, there will be no more Death Stars built in the EV.

Anonymous said...

IMO, the sooner these high-flying financial hot-shot companies fall to the ground, the better off we'll be. I'd love to see the Death Star building empty and begging for tenants. I find it to be a complete blight on the area.

Giovanni said...

I think what this means is that Christo is no longer the most dangerous predator in the East Village.