The Real Deal New York

Hedge funder pays $15M in Vornado rehab

By Adam Pincus | April 30, 2009 11:52AM

Jason Capello, who left the hedge fund Ospraie Management in 2007 to start his own firm, paid $15.45 million for a condominium in a Rosario Candela building at 40 East 66th Street, recently restored by Vornado Realty Trust.

The sponsor-owned unit was listed as a four-bedroom with 4,913 square feet by the Corcoran Group for $16.25 million.

Capello closed on the purchase April 13 after going into contract in June 2008, city property records published today show.

Vornado redeveloped the 12-story, red-brick building at the corner of 66th Street and Madison Avenue into luxury, three-bedroom apartments.

Capello sold a 72nd-floor unit in the Time Warner Center for $16.25 million in December 2008, city records show.

Capello’s real estate attorney declined to comment.

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