Reservoir Founder Grabs Upper East Side Digs For $15M

Aug 12 2011 | 9:59am ET

When the apartment that he craved came on the market after 52 years, Reservoir Capital Group founder Daniel Stern was not going to let it pass him by.

Stern and his wife, Nanna, paid $15 million for the 13-room duplex at 990 Fifth Avenue formerly owned by philanthropist Samuel Peabody, the New York Observer reports. That's $1.5 million more than Peabody first sought for the digs, which went to contract just eight days after he listed.

The five-bedroom, six-and-a-half bathroom apartment, across the street from the Metropolitan Museum of Art, features views of Central Park and a dining room that, in the words of its brokers, is large enough to "host a baronial center table or a flight of rounds for a large affair."


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.