Ex-Soros exec, Trump donor Scott Bessent pays $19M for 720 Park co-op

Hedge-funder behind Key Square Group gave $1M to Trump's inauguration committee

TRD NEW YORK /
Jun.June 09, 2017 02:00 PM

The apartment at 720 Park Avenue and Scott Bessent (credit: Getty Images)

Former Soros Fund Management executive Scott Bessent bought a co-op at The Storied 720 Park Avenue for $19.3 million, documents filed with the city Friday show.

The 14-room, nearly 7,000-square-foot duplex, which is heavy on frou-frou French detailing, went on the market last year with a listing price of $22.5 million. The seller was Mark Magowan, president of book publisher Vendome Press.

Stribling & Associates brokers Kirk Henckels and Jennifer Callahan had the listing.

The building is home to some of New York’s wealthiest residents, such as ousted AllianceBernstein CEO Peter Kraus, who paid $37 million for an apartment there in 2008.

When reached by phone, an assistant at Bessent’s Manhattan office said the company does not comment to the press.

Bessent, once known as the protégé of George Soros, managed foreign investments for Soros Asset Management during the 1990s, and first left Soros in 2000 to start his own company. He returned to Soros’s company in 2011 to serve as chief investment officer, only to leave again in 2015 to start Key Square Group, a hedge fund, with $2 billion from Soros. Key Square currently leases office space at Vornado Realty Trust and Oxford Properties Group’s TRData LogoTINY 650 Madison Avenue.

Like Soros, Bessent is a well-established political donor, and gave $1 million to President Trump’s inaugural committee following the November election. He previously gave more than $200,000 to a SuperPAC supporting Ohio Gov. John Kasich.

In 2007, Bessent bought an $11 million co-op at 1 Sutton Place South that had belonged to John F. Kennedy’s sister, Pat Kennedy Lawford. In 2014, he sold a mansion in Miami Beach for $14.5 million.


Related Articles

arrow_forward_ios
From left: 55 East 74th Street, 9 East 82nd Street, 1 Central Park South, 78 Irving Place with Adam Neumann and 111 West 57th Street (Credit: StreetEasy, Wikipedia, Getty Images)

Adam Neumann’s triplex, Russians’ Plaza pad were priciest homes listed last week

3 East 69th Street and 252 East 57th Street 

With asking prices in freefall, luxury market sees strong week

Keller Williams CEO Gary Keller

Keller Williams will cut off agents who leave

Wall Street bonus season is the stuff home sellers’ dreams, as they picture eager buyers armed with hefty bonus checks and willing to pay top price. But in a buyer’s market that vision may be more like a mirage (Credit: iStock)

Here’s what Wall Street bonus season means for real estate this year

Adam Neumann and 78 Irving Place (Credit: Getty Images and StreetEasy)

Adam Neumann is asking $37M for Gramercy Park triplex

(Credit: iStock)

Residential rents continue upward march in Manhattan, Brooklyn and Queens

Redfin's Glenn Kelman (Credit: iStock)

“It’s on like Donkey Kong”: Redfin scrambling to keep up with iBuyer demand

Don Lemon and Tim Malone with their apartment at 2280 Frederick Douglass Boulevard 

CNN’s Don Lemon lists Harlem condo with fiancé broker Tim Malone

arrow_forward_ios
Loading...