It might not look like much, but 912 Fifth Avenue has park views and Lord Norman Foster's pied-à-terre on the eighth floor.

Zoe Cruz has had a tough couple of years. Once the highest paid woman in finance and on track to succeed Jack Mack as CEO of Morgan Stanley, Ms. Cruz was publicly ousted from the firm in 2007 after the mortgage unit she ran lost $3.7 billion. Just last year she had to liquidate her $200 million hedge fund, Voras Capital, when its value dropped 8 percent in a year, and now, according to rumors reported by the New York Post, she's splitting up with Ernesto Cruz, her husband of three decades.

Nothing a little real estate therapy can't solve. Ms. Cruz—but not Mr. Cruz—just closed on a $7.34 million, 15th-floor unit at 912 Fifth Avenue, a limestone pre-war building between East 72nd and 73rd Streets, according to city records.

The unit boasts 2,700 square feet of space, three bedrooms and bathrooms and two maid's rooms (it hasn't been on the market for 40 years), but likely isn't in great condition—"Bring your architect/designer," the listing description reads ominously. The building's bones were, however, solid enough that Lord Norman Foster bought up the whole eighth floor a few years ago.

Ms. Cruz bought the apartment from the estate of Leon Jolson, who passed away at home in 2009 at the ripe old age of 96. Mr. Jolson was born in Poland, and survived the Warsaw Ghetto and concentration camp before emigrating to New York after the war, where he made his millions selling sewing machines.

The sale—which closed a bit above the $7.2 million ask—was brokered by Susanna Lendrum of Corcoran, who told The Observer that the buyer and seller did not want any press (oops!).

Mr. Sinclair's Expo Health Sciences Fund lost about 8.7 percent last year, and was down 6 percent this year through May. Mr. Sinclair isn't the only hedge fund manager to take to bed in recent months:

Billionaire energy trader John Arnold, former Morgan Stanley co-president Zoe Cruz, and Duke Buchan III are among managers who have shuttered hedge funds in the past year as Europe’s sovereign-debt crisis has roiled global markets.

And:

At least three hedge funds run by former Moore Capital Management LLC traders have shuttered in the past seven months after losing client money. They are Salute Capital Management, run by Lev Mikheev, Avesta Capital Advisors LLC, founded by William Tung and Tim Leslie’s JCAM Global fund.

As for Mr. Sinclair, he told investors that he intends to spend the summer sleeping and relaxing. He may even take up a hobby!

Spain agreed to an independent audit of its financial system as the nation's government seeks to head off concerns that bank bailouts are pushing public finances to the brink of collapse.

Failure to form a governing coalition could prompt a second round of elections in Greece.

The leftist Syriza party reiterated to European officials that it believes the debt deal signed by the previous Greek government is invalid.

Chesapeake Energy faces $1.4 billion in previously unreported liabilities.

David Weber, the SEC's new assistant inspector general for investigations, was placed on leave and banned from entering agency HQ after telling c0lleagues that he wanted to carry a concealed firearm into the office.

Reports surfaced earlier this week that SEC had ordered an independent investigation into complaints of sexual harassment in its inspector general's office.

The Facebook IPO is already oversubscribed, according to Reuters. The offering is generating weaker-than-expected demand, according to Bloomberg.

Yahoo! chief Scott Thompson told top executives that he never submitted a resume or inaccurate information about his background to the company, raising the question of how the inaccuracy wound up in SEC filings.

Morgan Stanley asked hedge fund run by former co-president Zoe Cruz to return funds last month, ahead of Ms. Cruz announcing yesterday that she would close the fund.

Former Lazard CEO William Loomis is back in an advisory role, UBS hired Peter Riccile as global c0-head of real estate, leisure and lodging investment banking and Societe General was said to hire Francis Repka as its CEO for Brazil.

Greenlight Capital founder David Einhorn won the seventh annual Hillel Texas Hold 'Em tournament, helping to raise $500,000 to promote Jewish engagement on college campuses.