Hedge Fund Magnate Is Moving His $41 Billion Firm From N.Y. to Florida

While its New York office will remain open, Elliott is also setting up a new office in Greenwich, Conn., the wealthy enclave northeast of the city. The new offices in Florida and Connecticut are expected to open before next July, the earliest date its employees could return to the office, the person said.

“It’s certainly not a positive signal,” said E.J. McMahon, an adjunct fellow at the Manhattan Institute, a conservative think tank that Mr. Singer has chaired since 2008. Mr. McMahon described the city’s tax base as “enormous but also fragile.”

For wealthy taxpayers, moving to Florida can provide a significant windfall.

Unlike New York State, Florida has no individual income tax, estate tax or capital gains tax, which the state has promoted in a concerted effort to recruit financial firms from New York.

Still, Ben Friedland, a New York real estate broker who specializes in hedge funds and

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Plano office buildings sell to Florida investor

A Florida-based investor – TerraCap Management LLC – has purchased a Plano office campus.

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TerraCap just bought Preston Park, a 200,000-square-foot office property located near Preston Road and Park Boulevard.

The two-building development was built in 1998 and was sold by Libitzky Property Co.

California-based Libitzky and Sunwest Real Estate Group had owned the building since 2017.

“We ended up with five offers to buy the buildings,” said Creighton Stark, executive vice president with commercial property firm Colliers International.

Stark said the previous owner originally planned to market the buildings for sale in March but held back with the start of the pandemic.

“Because of COVID, we hit he pause button,” Stark said. “We decided to go ahead in June, when there was nothing else of quality on the market.

“We were one of the few deals out there,” he said. “We had a tremendous response with groups

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Luxury Single-Family Home Sales Jump in South Florida

Big-spending home buyers across some of South Florida’s most major markets are propelling the area’s surging real estate market, according to the latest report released Thursday by the Miami Association of Realtors.

The number of homes that sold across Miami-Dade, Palm Beach and Broward counties jumped by double digits in September compared to the same time last year, but it was buyers at the top end, buying homes priced at $1 million or more, who were really out in force last month.


As is the case nationwide—in markets from Los Angeles to the Hamptons in New York—a feverish demand for single-family homes has emerged from the coronavirus pandemic as buyers, who in many cases have been spending more time at home than ever, seek more space and less dense locales.

In Miami, luxury single-family home transactions jumped 76.7% year-over-year to 159 sales in September, while existing luxury condo sales increased

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Armed Trump supporters near St. Petersburg, Florida, polling site were off-duty guards and had not been hired, officials say

“There was a misunderstanding,” said Thurston, who said he is not formally affiliated with the Trump campaign. “We didn’t hire them. It might have looked like that, but that’s not what happened. They were not there to intimidate anyone.”

Late Wednesday, the top elections administrator in Pinellas County, Julie Marcus (R), said the two armed people had told sheriff’s deputies that they were hired by the Trump campaign. She said generally that voter intimidation would not be tolerated.

On Thursday, Thurston said the tent was 250 feet from the polling site, beyond the perimeter where campaign signs and guns are not permitted. Pinellas County Sheriff Bob Gualtieri (R) said the off-duty guards had done nothing illegal.

The Trump campaign denied that it had hired the pair, and Gualtieri said at a news conference that there was no evidence that it had.

“What gave people the concern was just their presence,”

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Associa Vice President Co-Hosts Real Estate Radio Show

Dallas, TX, Oct. 22, 2020 (GLOBE NEWSWIRE) — Associa’s vice president of government affairs, John Krueger, recently participated in an installment of the Santa Fe, New Mexico radio show All Things Real Estate

All Things Real Estate is a live, hour-long, listener-interactive real estate radio show that offers the best and most timely real estate news, commentary, and information to buyers, sellers, and homeowners. In this installment, John Krueger and Tom Simon of WestGate Properties cohosted, discussing how communities outside of New Mexico are adapting to COVID-19, specifically highlighting annual owner and board meeting protocols as well as managing health risks related to accessing community amenities. Together, they covered lessons learned from actions considered or formerly enacted by governmental bodies in Arizona, California, Texas, New York, Florida, Nevada, and Canada, and deliberated potential statutory changes in New Mexico that could make adapting easier. 

In his role, Mr. Krueger manages

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Florida’s economy has entered a ‘partial recovery.’ Here’s how that’s playing out

Florida’s economy regained ground over the summer as businesses reopened and rehired. But it has hardly returned to its robust pre-pandemic state.



a man standing in a room: Experts say Florida’s economy entered a ‘partial recovery.' Pictured is Josh Wheeler, 19, filling out an employment form before his interview at the Hard Rock Event Center in Tampa in September. | [SCOTT KEELER | Times]


© SCOTT KEELER | Times]/Tampa Bay Times/TNS
Experts say Florida’s economy entered a ‘partial recovery.’ Pictured is Josh Wheeler, 19, filling out an employment form before his interview at the Hard Rock Event Center in Tampa in September. | [SCOTT KEELER | Times]

With days to go before the national election, the economic fallout from business shutdowns aimed at halting the spread of COVID-19 remains a central focus of the national debate.

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While the early months of the pandemic were characterized by widespread unemployment, plummeting tourism and spiking delinquencies on power bills and mortgages, late summer and early fall saw a smoothing out of those numbers.

The result is what economists are calling a “partial recovery.”

Retail spending made gains over the past few months, and

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Longstanding Viera/Suntree brokerage Vista Florida Realty LLC merges with Dale Sorensen Real Estate, Inc

VERO BEACH, Fla., Oct. 22, 2020 /PRNewswire/ — Dale Sorensen Real Estate (DSRE) is excited to announce that Vista Florida Realty has merged with DSRE Brevard.  The merger, which brings together two highly successful Brevard County brokerages, will give the companies a distinct advantage in the increasingly competitive world of real estate.

Vista Florida Realty was founded in 2014 by Grace Vista.  A native of Annapolis, Maryland, Vista has been a licensed realtor since 2004, earning her Broker’s license in 2014.  Deciding to merge with another company wasn’t an easy decision until she met with the DSRE team.

“When Gary Scenti, a managing broker at Dale Sorensen Real Estate, asked me to meet with them, I thought why not,” said Vista.  “I respected the Sorensen brand and I thought, if nothing else, I can learn something from meeting with them. What I didn’t expect was that when I

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Paul Singer’s $41 Billion Hedge Fund Moving Headquarters to Florida

(Bloomberg) — Florida is luring its biggest name yet in hedge funds: Paul Singer’s Elliott Management Corp.

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The $41 billion firm plans to move its headquarters to West Palm Beach from Midtown Manhattan, according to people familiar with the matter, joining a growing list of funds that have relocated to the Sunshine State.

With no individual income taxes, estate taxes or capital gains taxes, Florida has become a hot destination for hedge funds in recent years. The Covid-19 pandemic has accelerated that shift away from New York, the initial epicenter of the U.S. outbreak.

Singer’s co-chief investment officer and expected successor, Jon Pollock, owns a home near West Palm Beach and has been living there during the pandemic, said the people, who asked not to be identified because the information is private. The now-permanent move by Pollock, as well as several other senior employees, played a big role

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Paul Singer’s Elliott Management to open offices in Florida and Connecticut

Updates story with sourcing and details

Oct 21 (Reuters)Elliott Management Corp, one the world’s busiest activist investors, plans to open two new offices – one in Florida and one in Connecticut – to give staff more flexibility when the threat of COVID-19 ebbs and employees return to the office, a source said on Wednesday.

Paul Singer’s $41 billion hedge fund will keep its office in midtown Manhattan and add two new locations in West Palm Beach, Florida and Greenwich, Connecticut at some point next year, the person who was not authorized to speak about the private firm’s plans said. Elliott, which employs 466 people, also has offices in London, Hong Kong, Tokyo, and Menlo Park, California.

The move was driven largely by the pandemic which forced most Wall Street firms to shutter their headquarters in high-rise office buildings earlier this year and direct staff to work remotely.

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Paul Singer’s Elliott Management Moving Head Office to Florida

Paul Singer

Photographer: Patrick T. Fallon/Bloomberg

Florida is luring its biggest name yet in hedge funds: Paul Singer’s Elliott Management Corp.

The $41 billion firm plans to move its headquarters to West Palm Beach from Midtown Manhattan, according to people familiar with the matter, joining a growing list of funds that have relocated to the Sunshine State.

With no individual income taxes, estate taxes or capital gains taxes, Florida has become a hot destination for hedge funds in recent years. The Covid-19 pandemic has accelerated that shift away from New York, the initial epicenter of the U.S. outbreak.

Singer’s co-chief investment officer and expected successor, Jon Pollock, owns a home near West Palm Beach and has been living there during the pandemic, said the people, who asked not to be identified because the information is private. The now-permanent move by Pollock, as well as several other

Read More