Investment firms like Citadel and Tiger Global are snapping up NYC office space, no matter the cost

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Investment firms like Citadel and Tiger Global are snapping up NYC office space, no matter the cost
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The activity reflects a belief that the office is key to continued success.See more stories on Insider's business pageHigh-flying financial players such as hedge funds, private-equity firms, and other boutique investment companies are expanding their offices like it's 2019.

A spokeswoman for Tiger declined to comment. A spokesperson at Stone Ridge could not immediately be reached. A spokesman for Citadel declined to comment. "In the larger corporate world, there will likely be a match between some employees that want to work remotely and employers that are fine with it," said Ben Friedland, a vice chairman at the real-estate-services firm CBRE who specializes in leasing high-end office space to financial-services tenants.

"These guys are masters of the universe," one leasing executive quipped."They're not going to let COVID have an impact on them. They're above that."The deals signify a burst of activity in an office-leasing market that has otherwise been moribund. About 6.

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