Invoice Ackman, the billionaire hedge fund supervisor, will attempt to persuade New York’s highly effective Landmarks Preservation Fee on Tuesday to permit him to construct a “flying saucer” penthouse on high of the 120-year-old historic 6-16 West 77th Road constructing overlooking Central Park.
The penthouse is petite compared, however elicits no much less emotion on the Higher West Facet, the place it’s dubbed “the Nancy Friday condominium” after the writer of a ebook on feminine sexuality who pieced it collectively over time from three separate flats.
Ackman, 55, the founding father of Pershing Sq. Capital, is a Harvard-educated activist investor who famously profited $2.6 billion in a single day betting on the monetary influence of the coronavirus in the course of the early days of the pandemic. He has been engaged in a years-long battle together with his merely millionaire neighbors to garner help for his deliberate Norman Foster-designed two-story penthouse, dubbed a “temple to a titan.”
The Foster + Companions-designed penthouse has two stacked modernist glass containers, would change a pink stucco Seventeenth-floor penthouse that Ackman and his second spouse, scientist Prof. Neri Oxman, bought for $22.5 million in 2017.
“The Higher West Facet is considered one of our favourite neighborhoods. And my spouse and I desired to lift our new household on this neighborhood. We’ve got a two-and-a-half-year-old little one,” he defined final week throughout a digital public assembly.
Ackman stated the glass penthouse close to the American Museum of Pure Historical past could be “far much less conspicuous” and “much less dazzling” than the current pink brick penthouse, and would supply a “materials addition” to the historic constructing.
The struggle, which has been raging for 2 years, pits the merely prosperous in opposition to the ultra-rich and raises traditional questions on whether or not town’s historic buildings must be stored as fossils in amber or enriched with deliberate additions.
It isn’t Ackman’s most costly asset. In 2015, he paid $91.5 million for the penthouse of One57, a 1,005-foot on seventy fifth and 76th flooring.
He additionally owns a three-house beachfront compound in Bridgehampton, the Hamptons.
Ackman has amassed monetary victories based mostly on massive wagers and his capability to persuade the market that he was appropriate. Amongst them are his profitable activist marketing campaign in opposition to the Canadian Pacific Railway and his wager in opposition to the Municipal Bond Insurance coverage Affiliation.
He’s additionally had some important flops, together with an ill-fated funding in Valeant, a drugmaker that crumbled, and a multi-year brief promoting marketing campaign in opposition to Herbalife.