The hotels are located on Ashford Avenue in the San Juan’s Condado district, a ritzy corner of the island. The street is lined with shops including Louis Vuitton, Salvatore Ferragamo, Gucci and Cartier, according to the Condado Vanderbilt’s website.
Paulson is best known for making $15 billion betting against subprime mortgages as the financial crisis hit. He considered a move to Puerto Rico to take advantage of a new law that would eliminate taxes on his gains from money he has invested in his own hedge funds, four people who had spoken to him said in March. Less than a week later he said he had no plans to move there “in light of the media attention” surrounding his possible relocation.
Puerto Rico is seeking to attract investment as it attempts to rebuild its economy after years of contraction. The three biggest ratings companies cut the island’s credit ranking to junk this month.