Ex-Hedge Funder's Apartment Gets $29.6 Million

Dec 13 2012 | 11:46am ET

Former hedge fund manager Bruce Barnes has sold his New York City apartment for almost $30 million.

Barnes listed the three-bedroom, three-bathroom spread in Manhattan's exclusive Dakota Apartments in April. The price never changed from the original listing, which sought $29.6 million.

Barnes, who is president of the Dakota's co-op board, announced his plans to leave the Dakota after 17 years in April in a letter to his fellow residents. He told them that he and his partner no longer needed such a large apartment and planned, if they sold, to spend most of their time outside of the city. But some have speculated that a lawsuit accusing the Dakota and its board of discrimination may have played arole.

The Dakota, best known as the former home of Beatle John Lennon and the site of his murder, has a long history of rejecting would-be residents, including Billy Joel, Cher, Melanie Griffith and Antonio Banderas. But hedge fund manager Alphonse Fletcher accused the building of racist practices after his bid to buy a second apartment in the building was rejected.

Barnes' apartment is one of the largest in the Dakota, and features views of Central Park. Barnes recently restored the apartment's 19th-century details and installed an "architecturally innovative" chef's kitchen. It features 12-foot ceilings, three balconies and seven fireplaces, with "grand-scale public rooms," a library and a formal dining room with a built-in bar. Broker Brown Harris Stevens adds that, "if additional bedrooms are desired, the apartment provides extraordinary flexibility for up to three additional bedrooms and three additional baths."


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.