The Real Deal New York

Insider trading informant David Slaine sells Park Ave. co-op

Former Galleon Group partner, ex-wife took in $8.9M

June 16, 2016 03:25PM
By Ariel Stulberg

925 Park Avenue on the Upper East Side

925 Park Avenue on the Upper East Side

Former Galleon Group executive and convicted insider trader David Slaine, who famously led authorities to Raj Rajaratnam, just sold his Upper East Side duplex.

Slaine and his ex-wife Elyse sold their 3,900-square-foot co-op at 925 Park Avenue for $8.9 million, according to city records.

The five-bedroom unit, located on the property’s ninth and 10th floors, features a wood-paneled library, marble floors in the kitchen and bathrooms, a balcony and three fireplaces.

The buyers were Benjamin Edmands, co-founder of Consonance Capital Partners, and his wife Chiara.

Slaine joined Raj Rajaratnam’s Galleon Group, once one of the world’s largest hedge funds, back in 1998. He became an insider trading informant for FBI after getting caught trading on a planted tip. From 2009 to 2011 he was the key witness in Rajaratnam’s federal insider trading trial, which ultimately led to both their convictions, as well as those of several others at the company.

Rajaratnam was sentenced to 11 years in prison, while Slaine was given three years probation.

Back in 2014, protesters swarmed the Slaine’s Park Avenue home after Elyse allegedly fired her nanny of 15 years on a thin pretext and cheated her of wages.

Elyse bought a duplex at 700 Park Avenue for $4.2 million in 2013 with Casablanca Capital chairman Donald Drapkin.

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