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Billionaire hedge funder nabs Faena unit for $20 Million

Dinan paid $4, 228 psf for the 14th floor unit

Faena House,   Miami-Dade County

 

Billionaire hedge fund manager James G. Dinan is joining other billionaires and hedge funders at the exclusive Faena House – Dinan paid $20 million for a unit, Miami-Dade County records show. He bought unit 14A, a 4, 730-square-foot residence with four bedrooms and six bathrooms.

 

Len Blavatnik and Alan Faena attend the Whitewall Magazine Party At Delano Beach Club at Delano Beach Club on December 4,   2012 in Miami Beach,   Florida. Whitewall Magazine Party At Delano Beach Club

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That puts the price per square foot at about $4, 228. Dinan’s unit also features a 1, 516-square-foot terrace, according to marketing materials. He financed the deal with a $10 million mortgage from Bank of America. Dinan,  the founder of York Capital Management, is worth an estimated $2.4 billion, according to Forbes. In 2010, he sold 33 percent of York to Credit Suisse for a reported $425 million. Dinan, a partial owner of the NBA’s Milwaukee Bucks,  has homes in Manhattan; Westchester County, New York; Nantucket, Massachusetts; and in the Caribbean, according to a 2007 Bloomberg article.
Read the full story at The Real Deal By Katherine Kallergis

 

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