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Wall Street Comes to Hell's Kitchen With Ackman's Office Project

  • First tenant, Dwight Capital, is moving into 787 11th Ave.
  • Once-gritty neighborhood is known for its car dealerships
The U.S. Economy Deserves a Lot More Credit: Charles Lieberman

Photographer: Craig Warga/Bloomberg

Another piece of gritty New York City is giving way to the appetites of Wall Street.

By Monday, commercial-property lender Dwight Capital LLC will have settled into its new headquarters at 787 11th Ave. in Hell’s Kitchen, on a stretch that’s known for its car dealers and auto-service shops. The firm is the first office tenant to move into the building, which has gotten a more than $100 million overhaul. Within a year, Bill Ackman’s hedge fund, Pershing Square Capital Management, will settle in.