Bill Ackman’s hedge fund is up nearly 40 percent this year — but that isn’t distracting him from pitching some spare office space he co-owns in Hell’s Kitchen.
“If you’re interested in renting space, give me a call,” Ackman joked on a Tuesday call with investors, referring to 787 11th Ave., a 10-story office building on the West Side that Ackman personally co-owns with developer Georgetown Co.
The silver-haired billionaire struck the real estate deal in 2016, with plans for his hedge fund, Pershing Square Capital, to occupy the top two floors.
The lavish setup would have given Ackman and his employees easy access to a rooftop tennis court.
But after disastrous bets on Valeant Pharmaceuticals and Herbalife crippled the fund, Pershing Square was forced to settle for the ninth floor. Ackman rented the 10th floor out.
While the rest of the building is now mostly occupied, nearly 58,000 square feet on the eighth floor remains available to lease, according to the building’s Web site.
Elsewhere Tuesday, Ackman insisted that his big investments in Chipotle and Starbucksare largely insulated from the brewing trade war between the US and China.
Source: New York Post