5 years after submitting for divorce, the division of the property empire between billionaire hedge funder John Paulson and his ex-wife, Jenica, seems to be at its conclusion.
Jenica acquired the deed to the previous couple’s Higher East Aspect mansion at 9 East 86th Road, Crain’s reported. The deal valued the 20,500-square-foot dwelling at $30 million, or $1,463 per sq. foot. The deal was first reported in The Actual Deal’s each day offers e-newsletter.
Jenica used the seven-story, 52-foot-wide prewar mansion as a major residence for years. John bought the house from the City Membership in 2004 for $14.7 million, later investing at the least $5 million to renovate the property.
Now, the chief of Paulson & Firm and former Bear Stearns worker will transfer ahead with out the house. He may be shifting ahead with out additional separation battles; his legal professionals submitted a certificates of dissolution within the case, whereas each side’ legal professionals discontinued a business lawsuit.
Actual property watchers saved tabs on the divorce for years as a result of dimension of the couple’s real estate holdings and the dearth of a prenuptial settlement to guard the $20 billion the cash supervisor made by shorting the housing market earlier than the 2008 crash.
The couple, who married in 2000, reportedly spent greater than $100 million on properties in New York, Southampton and Aspen between 2004 and 2012. In 2008, they spent $41.3 million for 3 parcels of land on Southampton’s Lake Agawan and constructed a 15,000-square-foot dwelling on the 10-acre property.
In 2010, John paid $2.85 million for a two-bedroom unfold at 641 Fifth Avenue‘s Olympic Tower. And two years later, the couple purchased the Hala Ranch in Aspen, as soon as owned by Saudi Prince Bandar bin Sultan, for $49 million.
Issues between the previous couple took a very ugly flip in 2022, when Jenica filed a $1 billion lawsuit accusing John of utilizing trusts to defend belongings equivalent to properties. Jenica additionally accused John of improperly enriching himself through a condo purchase in Puerto Rico.
Lots of the particulars of the cut up are sealed beneath New York state regulation.
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