This Indian tycoon just bought Madonna's NY duplex

Pop diva Madonna has sold her 6,000-square-footNew York penthouse for a loss to a US-based Indian business tycoon Deepak Narula.

Madonna, however, has taken a $4million hit on her original asking price.

The property had been on the market for six months, it was first listed last November for $23.5 million before the price was cut by 15% in February to $19.995 million.

[caption id=“attachment_828151” align=“alignleft” width=“380”] The new owner is hedge fund manager Deepak Narula. Pic: Screengrab from CNBC[/caption]

Hedge fund manager Narula a former mortgage-bond trader at Lehman Brothers Holdings, is the principal and managing partner of Metacapital Management, which oversees more than $10 billion in assets under management, the Wall Street Journal reported today.

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“Narula’s funds was ranked fifth on a Barron’s list of top 100 hedge funds, and Bloomberg Market Magazine said the fund’s performance ranked it first among hedge funds managing $1 billion or more,” the report said.

Madonna had purchased the six-bedroom Harperley Hall home in Manhattan’s Upper West Side in 2009 for a reported $ 32.5 million and spent millions more renovating the apartment, reported New York Post.

She recently lowered the price to just under $ 20 million as she struggled to attract potential buyers for the property when she listed it in November (12).

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However, the ‘Material Girl’ has since agreed to hand over the keys to Narula, who allegedly scored the property for “considerably less” than the asking price.

The place comes with views over Central Park, a library and an eat-in kitchen, as well as interior decoration by Madonna’s brother Christopher Ciccone.

With inputs from PTI