Old Lindemann Co-op at 944 Fifth, Blue Sky Included, Sells for $16.51 M.

transfers 994fifth1h Old Lindemann Co op at 944 Fifth, Blue Sky Included, Sells for $16.51 M.Supply and demand can be a glorious thing. Uptown, where the full-floor co-ops come with Rococo-style drawing-room paneling and the maids’ quarters can’t be counted on one hand, there aren’t nearly enough lavish apartments on the market.

So even though the late Lilyan Spitzer Lindemann’s fifth-floor spread at 944 Fifth Avenue was an estate sale, it sold this month for $16.51 million.

“She did the apartment in 1949,” said listing broker Edward Lee Cave, “so it really shows you how a family of taste lived in that day.” Indeed, there’s a built-in wet bar, six walk-in closets (plus cloak room), 24 windows and a 14-foot-long pantry, plus a marble master bedroom and even faux-marble painted in the front hall.

The buyer knows what he’s doing: Jay Mantz, a managing director at Morgan Stanley, had until recently been co-head of the firm’s massive real-estate investments practice.

His new four-bedroom apartment went on the market late last summer for $18.9 million, before a $3 million price cut. Then the full-pocketed investors came! “In January, when the Wall Street bonuses hit the market, we had a surge of interest,” said Mr. Cave’s colleague, Caroline Guthrie, “and, actually, we ended up having to go to sealed bids.”

Wall Street folk probably liked the 62½ feet of Central Park views from the living room and master bedroom (both with wood-burning fireplaces) and the Louis XV–style library.

And best of all, Barbara Walters lives one floor up.

So Mr. Mantz will live beneath a lot of fanciness: “They had done some incredible decorative painting in the gallery,” Ms. Guthrie said about the sellers, “so that the ceiling was very cleverly designed with a sky and clouds.”

Article continues below
More from Politics
Mayor Bill de Blasio speaks at the New York Building Congress' annual meeting at The Pierre Hotel.
Bill de Blasio Urges Albany to Let NYC Use Its Design-Build Model for Infrastructure