New York City is emerging as the new home of the mega-rich hedge fund trader – stealing a bit of the thunder from Greenwich, Conn.

Five of 2006’s 11 highest-earning hedge fund traders call the Big Apple home, according to a recent report.

Just two in the top 11 – legends Eddie Lampert and Paul Tudor Jones – hail from the ritzy Connecticut town that is synonymous with money and hedge funds, according to the report in the latest issue of Trader Monthly.

The figures below represent take-home pay last year, not net worth, and dwarf the pay at Wall Street’s top banks. Here’s the lowdown on the Gotham Five:

* Stephen Feinberg, 47, of Cerberus Capital.

Earned $800M to $900M

* Bruce Kovner, 62, of Caxton Associates.

$700M to $800M

* Israel Englander, 58, Millennium Management.

$600M to $700M

* David Shaw, 55, D.E. Shaw & Co.

$600M to $700M

* Tim Barakett, 41, Atticus Capital.

$400M to $500M