Wednesday, 27 May 2015
Last updated 29 min ago
Jun 4 2012 | 12:45pm ET
Saba Capital Management founder Boaz Weinstein has some fancy new digs in which to celebrate his lucrative victory against JPMorgan Chase in the latter's $3 billion (and growing) trading disaster.
The former Deutsche Bank trader has agreed to pay $25.5 million for the Fifth Avenue apartment formerly owned by the late copper heiress Huguette Clark. And unlike previous parties interested in the 14-room penthouse—namely, the prime minister of Qatar, who offered $31.5 million—Weinstein and his wife, Rhodes Scholar and assistant U.S. Attorney Tali, won the approbation of 907 Fifth Avenue's notoriously tough co-op board. The couple have been negotiating for the digs since they went on the market in March.
The oak-paneled apartment is in need of some serious renovation, the New York Post reports. The reclusive, eccentric Clark, who died last year at the age of 104, had not lived in the apartment—or at two others she owned in the building—in decades. But her doll collection did, and she paid a cleaning staff to pay weekly visits to the apartment to keep both cleaned and maintained. First on the list of upgrades include the electrical system and plumbing.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by partcipating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…