Former Comptroller Alan Hevessi was brought down partly by pension placement agents, but Glen Sergeon Jr. is moving up, up, up thanks to his work as one. Mr. Sergeon has helped place millions of dollars in pension money from other states with Manhattan fund managers, a practice that got him dubbed the “Secret Agent” by Forbes magazine back in May.
Mr. Sergeon has just departed a Greenwich Village penthouse for a three-bedroom apartment in the condo tower 5th on the Park. According to city records, Mr. Sergeon paid $1.42 million for his new place on the 20th floor of the 28-story, FX Fowle-designed project. Completed in 2009 and located where Fifth Avenue meets the southern side of Marcus Garvey Park at 120th Street, 5th on the Park is the tallest apartment building in Harlem.
Mr. Sergeon’s new 1,884-square-foot home offers all the modern amenities a middle-brow, new construction tower has come to offer New Yorkers of all stripes. “All apartments feature state of the art kitchens with granite counter tops, washer/dryers, central air conditioner and heating systems, cherry wood floors, oversized windows, 9 – 10′ ceiling heights, marble baths with soaking tubs and custom closets,” write Michael Davis and Sheree Yellin in their Halstead listing.
Also, “Views, Views, Views!” from another now-standard feature, the 132-square-foot balcony. And this being Harlem, there are almost no taxes to pay, thanks to the 421-a program.
It would seem Mr. Sergeon is using some of the $6 million he made from the Kentucky pension fund to buy his new home, though really he does not have to–he just sold the penthouse at 77 Bleecker Street for $2.695 million, according to city records. The buyer of that perch was another money man, William Lipshutz, a noted currency trader who used to head the division for Salomon Brothers, where he made hundreds of millions of dollars annually for the firm throughout the 1980s. After a brief retirement, he struck out on his own the following decade, and, in 2006, was inducted into the Trader Monthly Hall of Fame.
How rich is Mr. Lipshutz’ new penthouse? “Perched above a classic village neighborhood, this quiet and tranquil penthouse is truly the perfect Greenwich Village home,” declare Keith Copley and Lisa Verdi in their Soethby’s listing. The co-op has two bedrooms, a large terrace and library on the second floor, and this not being new construction in Harlem, the maintenance is a considerable $4,070 per month.