Activist Hedge Fund Manager Bill Ackman in Contract to Buy ONE 57 New York Penthouse for $90m
As we reported here back in May 2012, a mystery buyer had entered into contract to buy the 10,000 SF+ duplex Penthouse at ONE 57 for a reported $90m. The rumors swirled that the buyer was anyone from Facebook top brass who had just come out with their IPO to russian Oligarch Alisher Osmanov to the Prime Minister of Qatar who has a penchant for trophy properties all over the world.
Today, the WSJ is reporting that the buyer is none other than Billionaire hedge fund activist Bill Ackman who was recently in the news for shorting shares of Herbalife and feuding with legendary Carl Ichan who went long Herbalife shares. Reports indicate that he is a co-investor in the property and will use it as an investment rather than a residence.
With NYC Penthouse valuations showing the BIGGEST INCREASES vs. other Manhattan residential real estate, we cn see the appeal.
One 57 infamously was in the news when a crane was damaged and dangling precariously after Hurricane Sandy.
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(c) ONE 57 / Extell Development