Leases  ·  Office

Long-Short Equity Firm Snowhook Takes 7K SF at 350 Madison


Snowhook Capital Management, a new long-short equity firm, inked a deal for 7,178 square feet at RFR Realty’s 350 Madison Avenue, Commercial Observer has learned.

The firm signed a sublease with Braemar Energy Ventures for the entire 23rd floor of the 25-story Midtown building between West 44th and West 45th streets, a source with knowledge of the deal said. Asking rents in the tower are more than $85 per square foot.

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Snowhook was founded in September by Stoyan Hadjivaltchev, former managing director and top short seller for hedge fund Third Point, Institutional Investor reported. The new firm counts Third Point CEO Dan Loeb as an investor and is currently raising capital.

CBRE (CBRE)’s Ben Friedland, Chris Corrinet and Hugh McDonald represented Snowhook in the deal, while Jonathan Schindler of Cushman & Wakefield (CWK) handled it for the sublandlord. A spokesperson for CBRE declined to comment, and spokespeople for C&W did not immediately respond to a request for comment.

Other tenants in RFR’s 63,832-square-foot 350 Madison include information services firm AlphaSights, Bank Leumi USA and private-equity firm Certares Management.