Senator Investment Group, the long-short, event-driven hedge fund firm founded by Alexander Klabin and Douglas Silverman in 2008, has taken the last available space at Zero Irving, a new development at 124 East 14th Street in Union Square, New York, according to a report by Commercial Observer.
The hedge fund has signed a 12,455-square-foot lease, marking the full occupancy of the 240,000-square-foot, 21 storey building developed by RAL Development Services and JRE Partners.
Senator, which is relocating from its previous HQ at 510 Madison Avenue, agreed to a 10-year lease with an asking rent of $170 per square foot, according to JLL, the landlord’s brokerage firm.
Silverman took sole control of Senator Investment Group following the departure of Klabin in 2020 to “pursue a more entrepreneurial approach to investing”. The pair who graduated from Princeton University, worked together at York Capital Management and then joined forces to found Senator in 2008 with help from Blackstone Group Inc.
Senator’s new neighbours at Zero Irving include private equity firm Alpine Investors which signed a 22,000 square feet lease at the building in late 2022.
