Ben Stiller and 118 Riverside Drive (Interior photo via Elliman)

Ben Stiller and his wife Christine Taylor have sold their 4,000-square-foot, five-bedroom, five-and-a-half-bathroom duplex co-op on the Upper West Side for a hair under $9 million, according to New York City public records seen by Co-op Sales. [more]

From left: 700 Park Avenue and Donald Drapkin

Casablanca Capital chairman Donald Drapkin and girlfriend Elyse Slaine have purchased a duplex at 700 Park Avenue for around $4.2 million, the New York Post reported.

Drapkin, ex-friend and longtime associate to billionaire Ron Perelman, was victorious in a dispute with his former boss over $16 million Drapkin said he was owed earlier this year. Slaine is also no stranger to scandal — her ex-husband is deposed hedge fund employee turned FBI informant David Slaine, whose insider information helped take down Raj Rajaratnam, the Post said. [more]

New hedge funds are increasingly setting up shop in Manhattan, in order to be more accessible and attractive to investors, the Wall Street Journal reported. Of the hedge-funds started between 2003 and 2008 in Manhattan, Greenwich or Stamford, 86 percent choose Manhattan, according to data from eVestment, which tracks the hedge-fund industry. But in 2009 and 2010, 92 percent of new funds chose to set up shop in Manhattan over Stamford and Greenwich, and data for 2011 shows a continuation of that trend. “There are blips in the data, but it’s clear launches shifted toward New York after the crisis,” Peter Laurelli, eVestment’s head of research, told the Journal…. [more]