Israel Englander buys French ambassador’s residence for $70M

From left: 740 Park Avenue and Israel Englander

From left: 740 Park Avenue and Israel Englander

The official residence of the French ambassador to the United Nations has sold for $70 million — well over the Park Avenue property’s initial ask of $48 million when it hit the market last April.

Israel Englander, founder of the hedge fund Millennium, purchased the 18-room duplex at 740 Park Avenue, French magazine Paris Match reported. Englander reportedly purchased the apartment to serve as a pied-à-terre for his children when they are in New York.

The sale is expected to close in May, according to the magazine.

The French state purchased the home in 1979 for $600,000. The equivalent of roughly $1.9 million in today’s dollars, the sale snagged government snagged a 3,500 percent profit.

Following the sale, the French ambassador will relocate to an apartment nearby but far less expensive at River House at 435 East 52nd Street, which is reportedly home to famous occupants like Henry Kissinger. [Paris Match] Julie Strickland

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