Sumit Mehta bought a condo at 1335 S. Prairie Ave. in the South Loop from American Home Mortgage Servicing Inc. for $699,000 on July 21.

Unit #1201 is one 167 condos at the 21-story Museum Park II development, which was built in 2007.

Mehta is the institutional sales director at UBS, a global wealth manager, investment banking and securities firm. Prior to this, he was the strategy consultant at Arthur D. Little and an analyst at Raymond James Financial.

He earned his degree in economics from the University of Texas–Austin and his M.B.A. in business from the University of Michigan Stephen M. Ross School of Business.

According to BlockShopper.com, there were 620 condo sales in the South Loop in 2008, with a median sales price of $295,000.