The Hedge Funder Accused Of Crashing The Gold Market Just Sold This Apartment For $7.4 Million

Dan Shak 1049 Fifth Avenue Apartment

Photo: Business Insider

A poker champion and hedge fund owner’s Fifth Avenue condo is now off the market.Daniel Shak, founder of SHK Asset Management, sold his 2,458 square feet apartment for $7.475 million about two weeks ago after nearly 9 months on the market. Shak listed his 3 bedroom Upper East Side dwelling for sale in January; he and then-wife Beth bought the condo for 7.2 million in 2005, according to

The place comes with a full-range of perks, including two terraces with views of Central Park, surround sound throughout the apartment and mahogany doors.

Shak turned heads earlier this year when he offloaded all of his gold contracts, worth nearly $850 million and a 10% share of the main U.S. futures market. The huge sell threw the whole gold market off its axis, and sent investors into a panic.

The move also caused Shak to go nearly $7 million in the red. And though the most recent condo deal may offset that loss, Shak put his apartment on the market before his big sell and said the two actions had no relation to each other.

Shak lives in Las Vegas and also owns a home in the Hamptons – this posh abode may not be dearly missed.

The entrance to 1049 Fifth Avenue, Central Park is just around the corner...

As you enter the apartment, there's a gallery to your left...

The living room opens to a wide balcony, and connects to the dining room and library.

The balcony offers a lounge area.

It also has a fabulous view of the park and reservoir.

From its 14th floor perch, the dwelling offers many great views.

There's a formal dining room, not lacking in opulent decor.

The eat-in kitchen is connected to the dining room.

A nice sitting area.

Another room opens up to a second terrace.

The master bedroom also opens up to the second terrace.

Here's the floor plan of the apartment.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at