Updated On
07/07/08 at 06:34PM
Banker buys on Upper East Side
By
Adam Pincus
A 7,324-square-foot duplex at the rehabilitated 823 Park Avenue building has sold for $20 million to a banker.
Ramesh Singh, global head of securitized products for the investment bank UBS, bought a unit on the first and second floor of the 12-unit building with his wife, Farida Khan.
The couple closed on the sale June 26 after going into contract in April, 2007, according to property records posted today.
The 1912 rental apartment building at 75th Street recently underwent a gut-renovation.
The exclusive broker is Kathy Sloane of Brown Harris Stevens.
A d v e r t i s e m e n t s
Comments
Anonymous
Talk about timing!!
Contract signed in April 2007.
Let's see:
1. Peak of the Manhattan real estate market
2. UBS shares down 70% since April 2007
What a great trade! And we all wonder why the investment banks are getting killed.
Comment #1 Posted By: Anonymous 07/08/08
Anonymous
and he runs the real estate and securitization team at UBS after some bloodletting. How long before ramesh himself gets the ax when UBS finally decides to exit the business. LOL
Comment #2 Posted By: Anonymous 07/08/08
Anonymous
Too long, didn't read.
Comment #3 Posted By: Anonymous 07/08/08
Anonymous
what are the maintenance and taxes on a $20mm apt?
this guy typifies everything that is wrong with wall street. it's a disgrace he gets to keep his money after having a huge hand in tanking that whole shop. maybe some of the thousands that were fired can get jobs sweeping his chimney and vacuuming his indoor pool.
Comment #4 Posted By: Anonymous 07/08/08
Anonymous
He currently lives in a $10m+ apartment at the legendary 740 Park Ave "the richest apar"the richest apartment where J.D.Rockerfeller lived and currently Michael Gross, Schwartzmann, Head Honchos of numerous wall street firms live.
Comment #5 Posted By: Anonymous 07/08/08
James S
Bet if he were here he'd select a property in Bow E3
Comment #6 Posted By: James S 07/09/08
Larry
STFU
Comment #7 Posted By: Larry 07/09/08
Anonymous
my hats off to the guy, he has outplayed every whining loser on this page
Comment #8 Posted By: Anonymous 07/10/08
Anonymous
Yep. Outplayed everyone. Except for the person who sold him the $10M pad. And everyone else who didn't buy at the very peak. And everyone else who didn't lose 70% of the value of their UBS stock. Other than that, he played it like a genius. Hats off, dammit!!
Comment #9 Posted By: Anonymous 07/10/08
Anonymous
Sorry - sold him the *$20M* pad.
Nope, still didn't outplay that guy.
Comment #10 Posted By: Anonymous 07/10/08
Anonymous
you people are bitter and jealous (but for the writer of comment #7). look in the mirror and you'll quickly realize why this guy is capable of this purchase and you are not. it's amazing the way this city hates those who succeed. finance is a cut throat business and those who survive are those who generally win...those who don't tend contribute to worthless chatter, like that read here.
Comment #11 Posted By: Anonymous 08/03/08
Anonymous
#10, you clearly do not know Ramesh Singh
Comment #12 Posted By: Anonymous 08/11/08
Anonymous
I knew him well. Smart,funny, and kind. I don't recall anyone ever saying he was a jerk.Everyone chased after those deals. He was hardly alone in being pushed to increase market share. Investment companies craved the points imbedded in the structured finance arena. I wish him well.
Comment #13 Posted By: Anonymous 09/08/08
Anonymous
I used to work for Mr. Singh. A very smart, plain-speaking, down-to-earth guy. He's a charismatic leader and motivator of people, and a compassionate manager. He's a hero to a lot of people.
Comment #14 Posted By: Anonymous 09/13/08
Anonymous
He should have been fired back in 2005 how he lasted so long was a surprise to everyone!!!
Comment #15 Posted By: Anonymous 09/16/08
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