His largest long bet.
His biggest short bet.
Still not good.
In other news, due to Pershing Square’s massive success, they’re moving into new office space, a vast big complex built from scratch in hells kitchen (rather befitting, if I say so myself).
At 787 11th Ave., Pershing Square is taking about 50,000 square feet on two new floors, to be built atop of the current eight, according to a person with knowledge of the plans. There also will be a gym, outdoor terraces, space for the Pershing Square Foundation and a tennis court on the roof for use by all office tenants. The hedge-fund firm will pay about $88 a square foot, down from the $140 a square foot it’s paying currently, said the person, who asked not to be identified because the agreement is private.
A partnership including Ackman bought the 464,000-square-foot building a year ago for $255.5 million from Ford Motor Co. Adam Flatto, president and chief executive officer of developer Georgetown Co., which leads the partnership, called the project a “counterpoint” to the skyscrapers being built to the south.
Here are some choice sketches of Ackman’s new digs.
Take a look at the idlers at Pershing discussing new employments opportunities.
LAVISH AMENITIES are a must for Bill. Both pool and tennis court accommodations will be provided.
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Nice place. Maybe if Bill goes bust, someone will take it over and do something useful with it. Maybe an art museum. Ceilings are high enough to house great big sculptures or paintings.
It might make a great fleece vest factory.
Yes. That’s true.
I can just visualize happy workers crafting attractive silver lined fleeced vests in that space.