Citigroup’s Pandit Buys ‘Odd’ Co-op

Sep 26 2007 | 7:38am ET

At the office in his new job, the going is tough. So Vikram Pandit is spending a small fortune on a not-so-small refuge.

Pandit, the new head of Citi Alternative Investments, has paid $17.9 million for the New York apartment once owned by the actor Tony Randall, famous for his role as Felix Unger in The Odd Couple. The 10-room co-op occupies an entire floor of the famed Beresford apartment building on Central Park West.

“This extraordinary 10-room residence offers outstanding entertainment rooms of grand proportions with magnificent detail,” according to a listing by real estate brokerage The Corcoran Group. “The residence enjoys superb light and impressive park views through 20 windows spanning two exposures.”

Pandit joined Citigroup this year after selling it his Old Lane hedge fund for some $800 million. But it has not been smooth sailing for Pandit at his new job: He was greeted by a nearly 40% drop in CAI profit, and Old Lane, recently enshrined as Citi’s flagship hedge fund, dropped 5.9% in August.


In Depth

Fund Manager's Disease: Common Symptoms and Proposed Remedies

May 3 2016 | 6:11pm ET

The cadre of 25 research analysts at Murano Systems speaks with more than 150 investors...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...