Dan Loeb Bought Himself A Yacht


Remember when Sandy Weill decided to sell all his belongings? Included in the fire sale was a 200-foot yacht called April Fool, which the former Citigroup CEO was trying to unload for $69.5 million, before slashing the price at least a couple times.

Loeb—founder of the hedge fund Third Point—recently purchased [the boat] for between $50 million and $52 million, according to people familiar with the sale. That marked a big discount from the most recent asking price of $59.6 million...The sale marks the shift of one generation of finance titans to the next. Weill, who built Citigroup throughout the 1980s and 1990s, has largely withdrawn from the world of finance and is downsizing his life. In an interview last year, he said he was selling April Fool because his grandkids had grown up and weren't using it as much for family vacations. In 2011, he sold his penthouse at the exclusive 15 Central Park West building for $88 million. Loeb also has an apartment in the building. "I'm trying to simplify," Weill said in the interview. "I think simpler is better."

Dan Loeb Gets $7 Million Break on Sandy Weill Yacht [CNBC]


Sleep Where Dan Loeb Hath Slept

The Third Point founder is reportedly looking for a buyer for his 10,674-square-foot penthouse at 15 Central Park West. If that sounds like something you'd be interested in, people hear that Loeb "wants $100 million," which would represent a 122.22% return (DL and his wife bought the place for $45 million in 2008). While perhaps a tad pricey, consider that back in November, Sandy Weill was able to get $88 million for his 15CPW apartment, a relative dump at 6,744-square-feet.* As for the Loebs, they are apparently "in search of something larger," if you've got any leads. It seems pretty obvious that a fellow hedge fund manager with a 20,000 square foot UES mansion** and a liquidity problem might want to get in touch but we'll let him come to that in his own time. Apartment Hunting For The Superrich [NYT] *Weill told prospective buyers that he'd be donating the money to charity but maybe they would've done this for him anyway. **Selling points: Indoor pool, bar and lounge with a closet.