The Real Deal New York

Ex-Galleon portfolio manager drops $27M on 56 Leonard Street penthouse

Leon Shaulov paid $7M less than the last asking price
By Miriam Hall | April 17, 2017 04:20PM

56 Leonard Street, Penthouse 58

Leon Shaulov, a former senior portfolio manager at the now-defunct Galleon Group, bought a penthouse at 56 Leonard Street with his wife Irina for $26.8 million, property records show.

Penthouse 58 at the Alexico Group and Hines-developed building was last asking $34.5 million, according to the listing, meaning the Shaulovs bought the unit for a 22 percent discount.

The full-floor unit has five bedrooms and five full bathrooms, according to StreetEasy. It features 14-foot ceilings, a library and more than 700 square feet of outdoor space.

Shaulov is managing member at Maplelane Capital, a hedge fund he founded in 2010. The hedge fund has about $2 billion in assets under management. He was previously a senior trader with the Galleon Group, which closed in 2009 amid an insider trading scandal that resulted in prison time for CEO Raj Rajaratnam.

The penthouse was one of two residences still available at 56 Leonard, according to StreetEasy. Alexico paid $135.5 million for the site, and construction began in 2007. The project encountered significant delays through the financial crisis, and sales launched in 2013. Closings began last year, and amenities at the building include a 75-foot long pool and an indoor-and-outdoor movie theater.

Earlier this month, the owners of a 55th-floor apartment relisted the home for $28 million — $6.2 million more than they paid weeks earlier.

The Corcoran Group is managing sales at the building, and no one from the brokerage was available for comment. Leon Shaulov declined to comment.