The Real Deal New York

Hedge-funder buys at 995 Fifth Ave. for $12 million

April 09, 2008 12:19PM
By Adam Pincus

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Billion-dollar hedge fund manager Karim Samii paid $12.6 million for a 10th floor cooperative unit in a landmarked building at 995 Fifth Avenue, according to city records.

The sale was the second most expensive to close for the newly converted building.

Samii is president and chief investment officer for New York-based Pardus Capital Managment, which suspended withdrawals in its $2 billion hedge fund at the end of March after a drop-off in the value of some its holdings, which include troubled airlines.

The former Stanhope Apartment Hotel, built in 1926 at the corner of 81st Street across from the Metropolitan Museum of Art, was converted by Gary Barnett into 26 co-op units in 2007. The building, which is in the Metropolitan Museum Historic District, saw few sales from November 2005 to April 2007. An 11-room duplex there is listed at $47.5 million by Corcoran.  

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