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Saturday, November 21, 
9:39 am

Hopefully Cayne paid cash for his apartment

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Jimmy CayneEarlier in the week, the New York Post's Page Six column noted that Bear Stearns Cos. chairman Jimmy Cayne (pictured at left) bought two adjacent 14th floor apartments at The Plaza for $28 million, joining Ken Moelis as a dealmaker calling the landmark building home. However, as Bear remains on the skids, Cayne's fortunes, which are tied in large part to the bank, have also slid.

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Also on Dealscape

He's no longer on Forbes' billionaires list. And as of Friday morning, Cayne lost $128 million as Bear shares cratered on news of the Federal Reserve Bank of New York's -- through J.P. Morgan Chase & Co. -- capital infusion, notes DealBook. In light of Friday's news, Plaza owner El Ad Properties would have been wise to only accept cash from Cayne. - Matthew Wurtzel

See story about capital infusion from Dealscape
See story about Bear's slide from DealBook
See Page Six story from the New York Post
See related story about Ken Moelis from Dealscape





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