Lifestyle

Viola Asks $114M For Gift-Wrapped N.Y. House

Dec 20 2013 | 10:51am ET

Hedge fund manager Vincent Viola has the perfect gift idea for the well-heeled this holiday season, and it even comes wrapped with a red ribbon.

It's his huge Upper East Side Townhouse, and it can be yours for just $114 million.

Viola, a former chairman of the New York Mercantile Exchange and co-founder of hedge fund Actius Capital Management, is making good on his promise to move to South Florida, where he is now the owner of the National Hockey League's Florida Panthers. He paid $240 million for the team, based outside of Fort Lauderdale, or just over twice what he's seeking for his former East 69th Street home.

If he gets it, it will be the most ever paid for a New York City house. Indeed, it would be twice as much as its closest contender, on nearby East 75th Street, which fetched $53 million in 2006—a year after Viola bought his house for just $20 million.

The house would also be the most expensive residential deal in New York history, after an apartment in the under-construction One57 monolith, bought for $90 million by an investor group including Pershing Square Capital Management's William Ackman.

Those digs may have impressive Central Park views—the Viola mansion's residents must walk a half-block to get to the park—but the East 69th Street place is bigger, clocking in at 20,000 square feet over its six stories. The home, built in 1883, has seven bedrooms, a duplex library, a recording studio, a movie theater lined in red velvet and an onyx-lined elevator to whisk you down to the basement pool and spa—or the rooftop outdoor shower.

According to the Viola's broker, Gabriella Dufwa, the house has already received offers "from around the globe," the New York Post reports.


In Depth

JOBS Act Propels Real-Estate Crowdfunding Platform

Oct 21 2014 | 2:57am ET

If D.J. Paul were a real estate development, he would be described as “multi-use...

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

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

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.