Saturday, 20 September 2014
Last updated 1 day ago
May 22 2012 | 10:39am ET
Canyon Capital Advisors co-founder Mitchell Julis knows a good deal when he sees one—and he's looking to cash in on New York's sizzling high-end real-estate market.
Julis and his wife, Linda, have put their three-bedroom condominium overlooking Central Park on the market. The couple bought the spread—which includes a studio apartment with a bathroom and kitchenette on a separate floor—for just $10.3 million in 2008, when the ultra-luxurious 15 Central Park West was completed. Just four years later, they're seeking $26 million.
If they get it, it would make for a 152% return.
While the Julis' fourth-floor spread is hardly the most extravagant among hedge fund pieds-a-terre in the big city, it does have three-and-a-half bathrooms (excluding the one in the seventh-floor studio), large windows overlooking the park, an impressive-sounding "marble-clad" kitchen and heated floors in the master bedroom. It's also currently one of only three apartments available in the 43-story building, which includes its own movie theater and a 14,000-square-foot fitness center with a pool.
Among those who have called the building home are Goldman Sachs CEO Lloyd Blankfein, former Citigroup chief Sandy Weill, actor Denzel Washington, Sting, New York Yankees third baseman Alex Rodriguez and sportscaster Bob Costas.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.