The Real Deal New York

Bridgewater hedgie closes on $19M pad at 432 Park

Bob and Sharon Prince buy 39th-floor unit at Macklowe's skinny supertall

October 14, 2016 02:45PM
By Katherine Clarke

432 Park Avenue

432 Park Avenue

A top executive at the world’s largest hedge fund is among the latest buyers revealed at 432 Park Avenue.

Bob Prince, the co-chief investment officer at Bridgewater Associates, bought a $19 million apartment with his wife Sharon at the Macklowe Properties TRData LogoTINY and CIM Group-developed tower, according to documents reviewed by The Real Deal.

The deal equates to about $4,750 per square foot. While the Princes bought the property under the guise of an LLC, documents filed with the city related to their renovation of the 39th-floor unit list the manager of the entity as Roy Medile. Medile works as the treasurer of Grace Farms, a religious retreat operated by the Princes in New Canaan, Conn. An address attached to the Department of Buildings filing is also shared by an LLC named Prince Operations, of which Sharon is a principal.

A spokesperson for the Princes did not immediately respond to a request for comment, nor did representatives for the project.

The Princes signed the contract for the 4,082-square-foot apartment in February 2016, property records show. In September, Bridgewater, headed by Ray Dalio, told employees that it was “bloated” and planning layoffs, according to Business Insider. Earlier this week, the company’s Westport, Conn. headquarters was evacuated over a bomb scare. The firm has about $150 billion in assets under management.

Meanwhile, Grace Farms, a $120 million spiritual center spearheaded by the Princes and their well-heeled friends, opened last year. It was designed by Japanese architecture firm Sanaa.

Other buyers in the building include Saudi Arabian billionaire Fawaz Al Hokair, Qatari diplomat Nassir Abdulaziz Al-Nasser and Vector Group’s Howard Lorber and Bennett LeBow.

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