Can Antares keep its tenants?

Huge drop predicted for Greenwich office rents Average Greenwich office space is $70 ft compared to $46 in Stamford and $36 in Fairfield County as a whole. Antares says that its UST building is fully leased to hedge funds at over $100 sq. ft. and, while a lease is a lease, one can wonder how long those tenants will last. One fund, Duff (Asociates?) is seeking to sub-let its contracted for 15,000 ft of space but that would be Duff’s problem, not Antares. But as prices drop and the disparity between neighboring areas grow, I’d think that some clever people will be looking to their landlord for concessions and/or least terminations. And of course, there’s always the issue of whether all those hedge fund tenants will survive to move into the new building.

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6 responses to “Can Antares keep its tenants?

  1. CEA

    Do you know what asking price Duff is looking for to lease? That might give a starting point. Duff was a new company, hadn’t really started up yet. I know Plainfield (another tenant) has lost a bundle, and SVP has lost some as well, but they are much smaller. Plainfield was the big lessee.

  2. christopherfountain

    I saw the story, CEA, but I thought the facts needed to be fleshed out, so to speak, so I held off posting it until we had more salacious details. But, now that you’ve linked to it ….

  3. Anonymous

    The largest tenant is SVP, not Duff.

  4. Towny

    Maybe the hedgies will pay the rent with their crap securities, kinda like the way they pay cash outs.

  5. Anonymous

    Plainfield has downsized and is on the hook to pay Antares. Word is that a move is in the works. Do they pay for this move to the fancy new digs and piss off investors, or just stay put since now that there are less employees current space is fine.
    SVP is largest and ONLY tenant in the building.