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	<title>Observer &#187; Zeckendorf Sells to Hedgie Scott Bommer, Makes Even More than We Thought</title>
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		<title>Observer &#187; Zeckendorf Sells to Hedgie Scott Bommer, Makes Even More than We Thought</title>
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		<title>Zeckendorf Sells to Hedgie Scott Bommer, Makes Even More than We Thought</title>

		<comments>http://observer.com/2011/09/zeckendorf-sells-to-hedgie-scott-bommer-makes-even-more-than-we-thought/#comments</comments>
		<pubDate>Fri, 23 Sep 2011 10:43:53 -0400</pubDate>
					<link>http://observer.com/2011/09/zeckendorf-sells-to-hedgie-scott-bommer-makes-even-more-than-we-thought/</link>
			<dc:creator>Elise Knutsen</dc:creator>
				
		<guid isPermaLink="false">http://www.observer.com/?p=186170</guid>
		<description><![CDATA[<p><div id="attachment_186180" class="wp-caption alignleft" style="width: 310px"><a href="http://nyoobserver.files.wordpress.com/2011/09/bommer-e1316787558302.jpg"><img class="size-medium wp-image-186180" src="http://nyoobserver.files.wordpress.com/2011/09/bommer-e1316787558302.jpg?w=300&h=200" alt="" width="300" height="200" /></a><p class="wp-caption-text">Scott and Donya Bommer (Photo from Patrick McMullan)</p></div></p>
<p>Back in July, <em>The Observer </em>learned that <a href="http://www.observer.com/2011/07/william-lie-wows-em-again-wassersteins-old-pad-in-contract-for-well-over-ask/"><strong>William Lie Zeckendorf</strong> had found a buyer for his half of the old Wasserstein pad</a> at <strong>927 Fifth Avenue</strong>, which <a href="http://www.observer.com/2011/real-estate/zeckendorf-pays-29-m-wassersteins-fifth-ave-pad">he had purchased for $29.1 million only seven months earlier</a>. The purchase price was rumored to be as high as $34 million, well above the $31.5 million ask and a good explanation for why Mr. Zecekendorf might ever think of selling, given the quick turnaround. It turns out, the sale was even higher than that.<!--more--></p>
<p>Plummeting stock market? Global recession on the horizon? <a href="http://cityroom.blogs.nytimes.com/2011/09/22/big-ticket-sold-for-34600000/?partner=rss&amp;emc=rss">Didn't seem to bother <strong>Scott Bommer</strong>, founder of uber hedge fund SAB Capital, and his wife, <strong>Donya</strong></a>. <em>The Times</em> revealed the couple as the buyer of the Zeckendorf pad, and they paid <strong>$34.6 million</strong> for it, meaning an extra $600,000 in Mr. Zeckendorf's pocket. There must be something about the apartment at <strong>927 Fifth </strong>which begs buyers to unload  their wallets, throwing in many millions of extra dollars to seal the deal. Remember, Mr. Zeckendorf paid well over the $26 million ask, as well.</p>
<p>Mr. Zeckendorf is no stranger to wise-if-often-eyebrow-raising real estate deals, of course. There was <a href="http://www.observer.com/2011/real-estate/locating-zeckendorf-buyer-gps-exec-purchased-15-cpws-record-setting-penthouse">his record-setting sale at 15 Central Park West</a> last December, raking in an extraordinary $30 million profit. For their part, Mr. and Mrs. Bommer are no newcomers to the world of luxury flips: they sold their Ritz pad for $3o million, according to <em>The Times</em>, after buying it three years prior for $28.5 million.</p>
<p>He's got a long way to get to enter William Lie territory.</p>
]]></description>
		<content:encoded><![CDATA[<p><div id="attachment_186180" class="wp-caption alignleft" style="width: 310px"><a href="http://nyoobserver.files.wordpress.com/2011/09/bommer-e1316787558302.jpg"><img class="size-medium wp-image-186180" src="http://nyoobserver.files.wordpress.com/2011/09/bommer-e1316787558302.jpg?w=300&h=200" alt="" width="300" height="200" /></a><p class="wp-caption-text">Scott and Donya Bommer (Photo from Patrick McMullan)</p></div></p>
<p>Back in July, <em>The Observer </em>learned that <a href="http://www.observer.com/2011/07/william-lie-wows-em-again-wassersteins-old-pad-in-contract-for-well-over-ask/"><strong>William Lie Zeckendorf</strong> had found a buyer for his half of the old Wasserstein pad</a> at <strong>927 Fifth Avenue</strong>, which <a href="http://www.observer.com/2011/real-estate/zeckendorf-pays-29-m-wassersteins-fifth-ave-pad">he had purchased for $29.1 million only seven months earlier</a>. The purchase price was rumored to be as high as $34 million, well above the $31.5 million ask and a good explanation for why Mr. Zecekendorf might ever think of selling, given the quick turnaround. It turns out, the sale was even higher than that.<!--more--></p>
<p>Plummeting stock market? Global recession on the horizon? <a href="http://cityroom.blogs.nytimes.com/2011/09/22/big-ticket-sold-for-34600000/?partner=rss&amp;emc=rss">Didn't seem to bother <strong>Scott Bommer</strong>, founder of uber hedge fund SAB Capital, and his wife, <strong>Donya</strong></a>. <em>The Times</em> revealed the couple as the buyer of the Zeckendorf pad, and they paid <strong>$34.6 million</strong> for it, meaning an extra $600,000 in Mr. Zeckendorf's pocket. There must be something about the apartment at <strong>927 Fifth </strong>which begs buyers to unload  their wallets, throwing in many millions of extra dollars to seal the deal. Remember, Mr. Zeckendorf paid well over the $26 million ask, as well.</p>
<p>Mr. Zeckendorf is no stranger to wise-if-often-eyebrow-raising real estate deals, of course. There was <a href="http://www.observer.com/2011/real-estate/locating-zeckendorf-buyer-gps-exec-purchased-15-cpws-record-setting-penthouse">his record-setting sale at 15 Central Park West</a> last December, raking in an extraordinary $30 million profit. For their part, Mr. and Mrs. Bommer are no newcomers to the world of luxury flips: they sold their Ritz pad for $3o million, according to <em>The Times</em>, after buying it three years prior for $28.5 million.</p>
<p>He's got a long way to get to enter William Lie territory.</p>
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