Hedge Funder Moves To Brooklyn (!) Penthouse

Jun 16 2011 | 10:34am ET

Some years ago, Williamsburg, Brooklyn, was an enclave all-but-reserved for artists priced out of Manhattan and a group of extremely Orthodox Jews. No more.

A top hedge fund trader has plunked down $2.2 million for a condominium atop Williamsburg's tallest building, demonstrating that the neighborhood is now drawing the Wall Street set.

LibreMax Capital's Jordan Milman is the newest resident of what used to fancy itself New York's hippest 'hood. Milman's digs are on the 30th floor of The Edge, which while not in Manhattan offers some pretty amazing views of the city, given its location on the Brooklyn waterfront.

And as befits a man who makes his money investing in subprime mortgages, Milman made sure to get a deal on the 2,000-square-foot space. When it first came on the market three years ago, the apartment was the most expensive in the complex, seeking $2.56 million. But Milman paid $200,000 less for it than another three-bedroom penthouse in the place, which sold in November.

Milman, a former Deutsche Bank trader, co-founded LibreMax last year. The new fund debuted in November and already manages an impressive $700 million.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...