Hedge Fund Honcho Buys $17.5 Million Downtown Apt.

Jan 11 2012 | 10:49am ET

Four floors weren't enough for hedge fund manager Harsh Padia—so, for an extra $2 million, he added a fifth.

Padia, who founded Hap Capital Advisors two years ago, has a new home in Manhattan, a five-floor penthouse in Tribeca. According to city records, he paid a whopping $17.5 million for the 7,200-square-foot home—a deal so big, certainly by downtown standards, that it will be featured in Bravo's new television series, "Million Dollar Listing New York," the New York Post reports.

Padia and his wife snapped up the penthouse, originally four floors and listed for $15 million, at 471 Washington Street. But a quadplex wasn't roomy enough, so Padia also bought the seventh floor of the building, making him the owner of half the building.

Padia's new home has 360-degree views, a rooftop pool and 4,200 square feet of outdoor space, including four terraces and two balconies. The quinplex has a 1,000-square-foot sunroom.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.