BlueCrest Capital Management, the investment firm co-founded by billionaire Michael Platt, is opening a new office on Park Avenue.
(Bloomberg) — BlueCrest Capital Management, the investment firm co-founded by billionaire Michael Platt, is opening a new office on Park Avenue.
The firm signed a 15-year lease at SL Green Realty Corp.’s 450 Park Ave. in Midtown, according to a statement Wednesday. BlueCrest has taken 21,640 square feet (2,100 square meters) of space, spanning the 30th and 31st floors of the 33-story tower.
While office vacancies remain near record highs in Manhattan, the finance industry has led demand for space as more companies push employees to get back to their desks. Hedge funds and investment firms including Citadel, Verition Fund Management and Blue Owl Capital Inc. have expanded or signed new leases in New York since the pandemic.
BlueCrest saw triple-digit returns last year and has increased its trading capabilities significantly, adding several portfolio managers globally.
Carmaker Aston Martin recently opened its Manhattan showroom on the ground floor of 450 Park. Office tenants include BDT Capital Partners and Junto Capital Management.
The tower, at the corner of 57th Street, is near BlueCrest’s current offices in the General Motors Building, at 767 Fifth Ave.
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