Thursday, 29 January 2015
Last updated 11 hours ago
Apr 30 2012 | 10:35am ET
A hedge fund manager is the proud new owner of the beloved estate of one of New York's best-known socialites.
Elm Ridge Capital's Ronald Gutfleish and his wife, Stacey Sorrow, bought Brooke Astor's 65-acre Westchester County estate in December. Astor, who died in the 85-year-old mansion in 2007 at the age of 105, had owned the Briarcliff Manor home for 47 years.
Gutfleish and Sorrow paid just $6.45 million for the 10-bedroom, 11-bathroom home, just half its initial listing price of $12.9 million. The estate, which includes a caretaker's cottage, guest house and garage in addition to the main house, as well as a 20-acre vacant lot, went on the market in 2008.
Gutfleish and Sorrow, who currently live in Dobbs Ferry, about 10 miles south of Briarcliff Manor, closed on the estate, which Astor called Holly Hill, in December. The couple began to renovate the main home this month.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…