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

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...