Sunday, 29 March 2015
Last updated 2 days ago
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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…