By Roland Li
Brazil is considered one of the premier emerging markets, with robust quarterly growth and a vibrant, young population. And like many foreign investors from booming countries, Arminio Fraga, one of the Brazil’s prominent economists, has decided to invest in Manhattan real estate.
Fraga and his wife, Lucyna, purchased Unit #9 at 147 Waverly Place for $7.5 million, according to city records.
Fraga was the president of the Central Bank of Brazil and later founded Gávea Investimentos, an asset management company that was sold to an affiliate of J.P. Morgan Asset Management last fall.
The seller of Unit #9 was Alastair Tedford, a financial veteran in his own right. Tedford is one of the founders and a managing partner of investment firm Albion Investors and was previously at Salomon Brothers, Goldman Sachs and Lehman Brothers.
Corcoran’s Robert Browne, Chris Kann and Gregory Sullivan were the listing brokers. None were immediately available for comment.
According to the listing, the 3,390 s/f unit has three bedrooms and three-and-a-half bathrooms. It has 31 windows, a wood-burning fireplace and direct elevator access.
KMG Partners was the developer of 147 Waverly, which has 20 residential units. Chipotle founder Steven Ells recently sold his unit in the building to Sam Frankfort, son of the CEO of the design company Coach, for $6.1 million.