Hedge fund manager spends $2.85M in Midtown

Medium cf4c419510e8837e372897516f0ed5cf John Paulson and Jenica Paulson bought a two-bedroom, 2.5-bath condo at 641 5th Ave. in Midtown from Barbara Safdieh and Eli Safdieh for $2.85 million on Nov. 11.

The 1,797-square-foot Unit #26A is part of the Olympic Tower condominium development, which was built in 1981.

Mr. Paulson is a hedge fund manager, founder and president of Paulson & Co., an investment management company.

He began his career at Boston Consulting Group before leaving to join Odyssey Partners, then Bear Stearns, before launching Paulson & Co. in 1994. He is #45 on the Forbes list of the world's wealthiest billionaires and is worth approximately $12 billion as of 2010.

He received a bachelor's degree in finance from New York University's College of Business and Public Administration and an M.B.A. from Harvard Business School.

According to BlockShopper.com, there have been 98 condo sales in Midtown during the past 12 months, with a median sales price of $1.196 million.

Address: 641 5th Avenue, Unit: 26a
Buyer(s): Paulson, John, Paulson and Jenica
Seller(s): Safdieh, Barbara, Safdieh and Eli
Sale date: Nov. 11, 2010