A Hedge Fund Lease as Harbinger and Hope

Proving that hedge funds may indeed be the new investment banks (as Tom Wolfe told The Observer earlier this month), new hedge fund Dabroes Management has signed for 12,202 square feet on the 24th floor of 1095 Avenue of the Americas, the former Equity Office Properties tower that's undergone $275 million in recent renovations, including a green curtainwall.

The rent's $135 a square foot, according to Dabroes' agent on the deal, CB Richard Ellis. That's the sort of rent expected for Class A space in Manhattan.

One of the many question marks spawned by the financial crisis, of course, was whether commercial landlords will be able to continue to command such high rents.  read more »

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