Lavish amenities are a must-have for Bill Ackman's Pershing Square Capital new ... - Crain's New York Business
Ackman, who hopes to relocate his firm Pershing Square Capital Management into the 464,000-square-foot property located at 787 Eleventh Ave. He wants to add two floors, totaling 60,000 square feet, on top of the eight-story building and install a large outdoor roof deck with a swimming pool and tennis court. Ackman is hoping that Georgetown leaves large internal automobile ramps leading to the upper floors of the building so Pershing Square employees can drive right to their office's doorstep. The building has the ramps because it was previously a car-repair facility for Ford. Georgetown, however, may opt to remove the ramps to create room for more office space. If Georgetown goes ahead with Mr. Ackman's vision for 787 Eleventh, the penthouse floors would offer an additional perk to the property. Since the building doesn't have additional development rights, Georgetown would have to eliminate existing floors to build upward. Moore Capital, for instance, reached a deal to move into 11 Times Square when that tower's landlord, SJP Properties, agreed to install a squash court in the space for the company's executives. Source: www.crainsnewyork.com
