Wednesday, 24 August 2016
Last updated 12 hours ago
Jun 18 2014 | 8:32am ET
When Israel Englander’s kids come to visit the hedge fund manager, they’ll now stay in ambassadorial style.
The Millennium Management founder has bought the residence of France’s ambassador to the United Nations for $70 million. The price—$22 million over the asking price—followed frenzied bidding, according to published reports, and ties New York’s record for a co-op price, set last month.
The palatial 18-room duplex sits just below Englander’s own apartment at 740 Park Avenue, one of the city’s most exclusive buildings. Englander plans to use the home as a pied a terre for his children, Paris Match reports.
The apartment has been the French ambassador’s home since 1979, when France bought it for $600,000. But facing a huge budget deficit, France is seeking to cash in on some of its New York real-estate holdings: It is in contract to sell a Fifth Avenue townhouse listed in the spring for $32.5 million.
As for its ambassador, France has decided to move him to slightly less posh digs closer to its U.N. mission: River House on East 52nd Street, home to former U.S. Secretary of State Henry Kissinger.