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Collector Pays $27.5M For Embattled Dakota Co-Op Head's 3BR

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Dakota co-op board head/former hedge funder Bruce Barnes listed his three-bedroom apartment in April of 2012 for $29.6 million, it went into contract in December of that same year, and then it disappeared. Mysterious. Now it has resurfaced, with the transaction hitting public records today (spotted by The Real Deal). And the buyer is none other than... Ydessa Hendeles. Who? Well, she's a prominent Canadian art collector who is apparently past her prime, but she must have made a pretty penny to be able to shell out $27.5 million (7 percent below ask) for Barnes's 3BR/3BA.

Under his watch, the unit's 19th-century details got restored, including doorways, moldings, hand-carved woodwork, shutters, and fireplaces. There's central air, though, and an "architecturally innovative" chef's kitchen, as well as a 24-foot-long Central Park-facing library and two balconies.

Here's why Barnes may have wanted out: it was speculated that Barnes wanted to leave the Dakota after all the drama over Alphonse Fletcher Jr., an investor who sued the building after allegedly being denied the opportunity to purchase the Dakota apartment next to the one he already owned. Fletcher himself is a former board president. Good luck dealing with that crew, Ms. Hendeles.
· Dakota co-op chief sells apartment for $27.5M [TRD]
· Head of Dakota's Co-op Board Wants Out for $29.6 Million [Curbed]
· Head of Dakota Co-op Board Finds a Buyer for $29.6M Pad [Curbed]
· All Dakota coverage [Curbed]

The Dakota

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