Paris-Based Hedge Fund Takes 23K SF at BXP’s 510 Madison Avenue
By Isabelle Durso August 4, 2025 2:41 pm
reprints
Paris-based hedge fund Capital Fund Management (CFM) is relocating its New York City offices about 10 blocks north in Midtown East.
CFM, which has more than $19 billion of assets under management, has signed a long-term lease for 23,000 square feet on the entire 28th and 29th floors of BXP’s 510 Madison Avenue, according to tenant broker Lee & Associates NYC. Asking rent was $160 per square foot.
The deal represents a relocation for CFM, which will leave its current address at the Chrysler Building for its new spot on the corner of East 53rd Street and Madison Avenue in March 2026, Lee said.
“We chose to lease space at 510 Madison Avenue for several key reasons,” Oliver Schupp, head of investor relations for North America at CFM, said in a statement.
“Its prime location is convenient for both clients and employees,” Schupp added. “Despite a lobby renovation in 2012, the building is undergoing further upgrades. It offers exceptional amenities, including an elite health club, a new world-class conference center and a garden terrace on the sixth floor.”
The exact length of the lease was unclear. Lee’s Richard Plehn and Lisa Ann Pollakowski brokered the deal for the tenant, while BXP was represented in-house by Heather Kahn and Will Stark.
A spokesperson for BXP did not immediately respond to a request for comment.
CFM was founded in 1991, and became one of the first firms to focus on quantitative and systematic investing, according to Lee.
The hedge fund will join several other tenants at the 30-story 510 Madison, including private equity group One Equity Partners, hedge fund Anomaly Capital Management and investment firm Declaration Partners.
CFM is also one of several tenants looking to leave their offices at the Chrysler Building, which is up for sale after former owner RFR Holding was evicted from the property in January for not paying ground rent, among other things, as Commercial Observer previously reported.
Isabelle Durso can be reached at idurso@commercialobserver.com.
