Andor Capital’s Benton Buys NYC Penthouse for $39 Million
Daniel Benton, who founded Andor Capital Management LLC, once among the largest technology hedge funds, bought a duplex penthouse in Manhattan for $39 million.
The deal for the co-operative apartment at 730 Park Ave., near 71st Street, was completed in October, according to New York City property records made public yesterday. The seller was listed as Joann B. Walker.
The property was quietly offered for sale for about $35 million through a network of luxury brokers, after a nearby Manhattan penthouse owned by the late private-equity billionaire Ted Forstmann received multiple bids, according to Meredyth Smith, a broker with Sotheby’s International Realty Inc. She, along with Serena Boardman, represented Forstmann’s estate and the seller at 730 Park.
The sale of Forstmann’s penthouse was completed in June for $40 million, 11 percent more than its owner sought, according to city land records. Some of those bidders were offered a chance to consider the duplex unit at 730 Park, Smith said.
“It basically checked off every category that the high-end buyer is looking for in a residence,” Smith said of the apartment, which spans the top two floors of the 20-story building.
“It had the location, it was a distinguished prewar co-op, it was in triple-mint condition, it had beautiful terraces and outdoor space, it had wonderful open city views and sunlight in every room,” she said.
Benton, 53, didn’t return a voice mail seeking comment on the deal.
Andor Capital shut down in 2008 when Benton announced his retirement. The firm, which managed more than $2 billion, was one of the three biggest technology hedge funds, along with Lawrence Bowman’s Bowman Technology Fund, which closed in 2001, and Raj Rajaratnam’s Galleon Group.
Benton came out of retirement this year and restarted Andor Capital, according to Marketwatch.com. It is listed at No. 193 of the top 200 hedge funds by Hedgetracker.com.
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