“For [Greenwich real estate developer Joseph] Beninati, this all adds up to the ‘ultimate investment play,’ he says. During a recent interview in his office in Stamford, Conn., he used a white board and marker to sketch out what he referred to as the town’s ‘business ecosystem.’ He drew a triangle and divided it horizontally into three sections. In the top section, he scribbled ‘Hedge funds and private equity.’ For them, he said, rent is lowest in comparison to profits, so they can pay the most. In the middle tier, he said, come investment banks. At the bottom, he said, sit advertising firms, accountants and lawyers. ‘We’ll move them to Stamford,’ he said, referring to the city east of Greenwich, where office space is less expensive.”

– “Greenwich Builder Bets Hedge Funds Will Pay for Excess,” WSJ