Millennium’s Englander Pays $70M For French Ambassador’s N.Y. Apt.

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.


In Depth

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note