Billionaire hedge funder buys two Park Avenue penthouses for $23M

Louis Bacon and his new apartment at 888 Park Avenue (credit: Brown Harris Stevens)

Louis Bacon, the billionaire founder and chief executive of Moore Capital Management, just purchased a top floor unit at 888 Park Avenue for $13.75 million, per city records. This purchase comes about a month after he paid $8.75 million for another penthouse in the building, suggesting he is planning on a conversion.

The other unit he bought in July (credit: Warburg)

This new penthouse unit was originally listed in May for $14.5 million, so Bacon and his wife, Gabrielle Sacconaghi, a socialite and art advisor, got a decent deal on it. According to the listing, with Mary Rutherfurd, Leslie Coleman and Noah D. Dopkins of Brown Harris Stevens, this co-op unit has four bedrooms, five bathrooms, a 2,000-square-foot terrace, views of Central Park, plus servants quarters. The apartment he bought in July also has a terrace, plus an additional two bedrooms and two and a half bathrooms.

(credit: Brown Harris Stevens)

The whole place does seem a bit bare, but we imagine with the right touches (not to mention the right art, which we’re sure Sacconaghi will be able to find), it could be lovely. The seller of the unit was the late Mary Kettaneh, whose daughter, Joyce Longworth, sold the unit through her estate.

(credit: Brown Harris Stevens)

According to Forbes, Bacon is worth about $1.8 billion. In addition to his finance work, he is an avid conservationist and philanthropist.

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