John Paulson Buys Modest $3 Million Apartment


The billionaire hedge-fund manager, who was recently exhorting people to scoop up as much real estate as possible before the dollar goes bust, is following his own advice: He just picked up a two-bedroom at 641 Fifth Avenue’s Olympic Tower for the relatively modest price of $2.85 million. It’s doubtful he plans to actually move in (Paulson lays his head in a $14 million mansion up the road). More likely, he’ll just use it to store gold bricks until he can resell it at an inflationary price. [Real Deal]