Elliott Cements Real Estate Strategy With New York City Deal

The historically neglected lower Manhattan real estate market near city hall is about to get a boost from Paul Singer’s Elliott Management. The New York Times is reporting that Elliott is participating in financing to develop one of the historic skyscrapers in Manhattan into a mixed hotel and condominium building. Making New York’s City Hall area hip The effort is being led by the fund’s growing real estate division. Under Timothy Mackey’s stewardship Elliott will invest $150 million with GFI Capital Resources, the New York developer of the Parisian inspired NoMad hotel and the “bumping” Ace hotel, both located just north…