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

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

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

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

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.