In a Huff! 993 Fifth Floor Trades to Hedge Fund Kingpin

998 fifth1 In a Huff! 993 Fifth Floor Trades to Hedge Fund Kingpin“In this day in which masters of the universe tend to act like masters of the universe, it was an incredible pleasure to work with a buyer with so much grace and humility,” Warburg broker Frederick Peters told The Observer from his office.

This upstanding buyer would be Craig Huff, the co-CEO of under-the-radar hedge fund Reservoir Capital Group, which he founded in 1998 after a stint at Ziff Brothers Investments. According to city records, Mr. Huff and wife Jacqueline Tracey Huff bought the entire sixth floor–formerly two apartments–at 993 Fifth Avenue, the limestone grandee across from the Met. They are moving from 17 East 89th Streeet.

One source said the Huffs took advantage of the “unique opportunity to recombine two grand Fifth Avenue apartments into the original full-floor layout,” as Mr. Peters and Judith Lederer‘s listing put it. Corcoran‘s Carrie Chiang shared the listing.

The exact price is not yet known, as only unit 6A and the hall in between have been filed with the city, selling, respectively, for $10.53 million and $306,000. Mr. Peters declined to discuss the second apartment.

The seller of 6A was the estate of Grace J. Ross, the wife of corporate lawyer David G. Ross, who died in 1997. His clients included the Boston Celtics, and the family was a big supporter of Jewish educational institutions, such as Hebrew University in Jerusalem and the Smith College Jewish Studies program.

The Ross apartment comprises two-thirds of the 15-room spread the Huff’s bought. It has three bedrooms, a 550-square-foot living room with a fireplace. Combined into its original layout, there will be five bedrooms and four maids rooms. “Those apartments were all originally one to a floor,” Mr. Peters said. “The proportions are incredibly generous, great layouts, it’s just a fabulous apartment no matter how you slice it.”

Or put it back together.

Correction: An earlier version of this post incorrectly reported the address as 998 Fifth, and the accompanying picture was of that building, as well. The Observer regrets the error.

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mchaban [at] observer.com | @MC_NYC

Comments

  1. Anonymous says:

    Also, “David G. Ross” is actually Daniel G. Ross. There have been lots of mistakes in these “Transfers” articles.

  2. Anonymous says:

    Also the accompanying picture is 998 Fifth