Metacapital's Narula Buys Madonna's Manhattan Apartment

May 29 2013 | 9:48am ET

Metacapital Management's Deepak Narula is celebrating his arrival as one of the hedge fund industry's most successful managers with a home fit for a pop star.

Narula has bought singer Madonna's huge duplex on Central Park West—and for a bargain price, at that. The six-bedroom, 6,000-square-foot duplex, which Madonna built by combining smaller units in Harperley Hall, has been on the market for six months, and had its listing price of $23.5 million cut to $19.995 million in February, and The Wall Street Journal reports that Narula paid considerably less than that.

The apartment sits on the fifth and sixth floors of the hundred-year-old building, at the corner of West 64th Street, with views over Central Park. It has 15 rooms, including a pair of large living rooms with balconies and eight bathrooms, including one large marble bathroom with a claw-foot tub.

Narula has been one of the most successful hedge fund managers in recent years, posting double-digit gains in both 2011 and 2012. Metacapital manages more than $10 billion in assets.

For her part, the Material Girl may be ready to move into the three adjacent townhouses on East 81st Street that she bought for $32.5 million in 2009 and spent the past four years renovating.


In Depth

OmniQuest Capital: Why Funds of Hedge Funds Work

Aug 11 2016 | 4:47pm ET

There have been few sectors of the alternative investment universe under as much...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...