search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aMacerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loanH-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomOffice upgrades, concessions to lure tenants add “killer” cost: Steven RothOffice upgrades, concessions to lure tenants add “killer” cost: Steven Roth
New York

Boaz Weinstein buys Huguette Clark’s penthouse

Hedge funder who profited off of JPMorgan's big $2.3B loss takes heiress' co-op.

Boaz Weinstein has taken down a second New York institution this month. The head of hedge fund Saba Capital Management, who was the lead benefactor from JPMorgan Chase’s $2.3 billion trading loss earlier this month, is the buyer of one of heiress Huguette Clark’s apartments — a classic Fifth Avenue co-op that overlooks Central Park.

Sign Up for the undefined Newsletter

Weinstein paid $25.5 million for the 12th-floor apartment at 907 Fifth Avenue, near 72nd Street. The home was listed by Mary Rutherfurd and Leslie Coleman of Brown Harris Stevens for $24 million. The apartment is said to be structurally sound but is in desperate need of renovations, as it has electric wiring, plumbing and appliances that are nearing their 100th birthdays.

The apartment is the first of three units that Clark owns in the building to sell, according to the Post. The “notoriously stuffy” co-op board rejected the prime minister of Qatar’s $31.5 million offer for one of them, but “loved” Weinstein and his wife, Tali, Post sources said. [Post]

Tags
Huguette Clark