Hedge fund manager Bill Ackman took a hit ($130,000) on a small apartment he sold while moving from one apartment to another in Central Park West in Manhattan.
Ackman, who already sold the main apartment on the 19th floor, had been trying to sell another smaller 1-bedroom apartment on the 18th floor. He says it’s “great for staff.”
Originally he was asking $950,000, but he didn’t get it, so he planned an auction (with free wine) and invited everyone in the building.
The auction was last week and Ackman reportedly only got about $320,000 for the small apartment. Ouch. He bought it for $450,000 in 2007.