An addendum to my post yesterday on unemployment and vacant office space in Greenwich. Today’s Wall Street Journal notes that Greenwich hedge funds Duff Capital Managment, Plainfield Asset Management and AQR Capital Management have all abandoned plans to add more space or are seeking to sublease new space they have contracted for.
These funds are among the cream of the crop in terms of management and ongoing success for the hedge fund industry in Greenwich. This economy is unforgiving even for the best financial firms, and Greenwich is feeling the pain.
Jim – there are still some nice stories on Greenwich Avenue, though, such as BestEver Cleaners, which is celebrating its 50th year in business there. Times are tough, of course, but they’re hanging in and still delivering the same great products and customer service.
Comment by LocalShopperCT — July 13th, 2009 @ 3:59 pm