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	<title>Observer &#187; Cellular Communications Giant George Blumenthal Sells Co-op For $31.5 M.</title>
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		<title>Observer &#187; Cellular Communications Giant George Blumenthal Sells Co-op For $31.5 M.</title>
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		<title>Cellular Communications Giant George Blumenthal Sells Co-op For $31.5 M.</title>

		<comments>http://observer.com/2012/04/cellular-communications-giant-george-blumenthal-sells-co-op-for-31-5-m/#comments</comments>
		<pubDate>Mon, 30 Apr 2012 18:48:19 -0400</pubDate>
					<link>http://observer.com/2012/04/cellular-communications-giant-george-blumenthal-sells-co-op-for-31-5-m/</link>
			<dc:creator>Kim Velsey</dc:creator>
				
		<guid isPermaLink="false">http://www.observer.com/?p=236324</guid>
		<description><![CDATA[<p><div id="attachment_236343" class="wp-caption alignleft" style="width: 342px"><a href="http://nyoobserver.files.wordpress.com/2012/04/1030fifthave.jpg"><img class="size-full wp-image-236343" title="Better than 15 CPW?" src="http://nyoobserver.files.wordpress.com/2012/04/1030fifthave.jpg" alt="" width="332" height="242" /></a><p class="wp-caption-text">Better than 15 CPW?</p></div></p>
<p>Do you ever grow tired of looking out your window and seeing the same old sweeping views of the city? Apparently, <strong>Zachary Jared Schreiber</strong> and his wife <strong>Lori</strong> did. The couple is ditching their sprawling 33rd-floor apartment at 15 Central Park West for a sprawling 9th-floor apartment at <strong>1030 Fifth Avenue</strong>.</p>
<p>Both apartments have views of the park, <em>of course</em>, but one is from the west side and the other is from the east, and the new one has 55-feet of Central Park footage, which we imagine would be a very refreshing shift. Plus those sunsets.<!--more--></p>
<p>Or maybe Mr. Schreiber, the managing director at Duquense Capital Management just got tired of all the riffraff at 15CPW and was looking for something more exclusive?</p>
<p>Well, the couple most likely found it at the white-glove co-op, built in 1925 by J.E.R. Carpenter. They bought the full-floor, 6-bedroom apartment for <strong>$31.5 million</strong> from Cellular Communications co-founder <strong>George S. Blumenthal</strong>, according to city records.<strong><br />
</strong></p>
<p><strong></strong>The "baronial," sunlit apartment was listed with <strong>Warburg </strong>brokers <strong>Bonnie Chajet</strong> and <strong>Ronnie Lane</strong> for $35 million. Mr. Blumenthal has owned the co-op since 1995, when he bought it for a pittance—$5.7 million—according to the records of the Olshan Luxury Market report.</p>
<p>The six-bedroom apartment also features a gym, an eat-in kitchen, a library, powder room and wood-burning fireplace. There are too many en-suite baths and oversized closets to mention.</p>
<p>Will the Schreibers' be paying for the purchase of their new home with the sale of their old one?</p>
<p>Well, although the couple had their 15 CPW pad listed for a suspiciously-similar $31.5 million until last summer, it's been off-the-market since then.  The Schreibers bought it for only $11 million in 2005, but then it does fabulous sounding details like a "rich striped tiger maple paneled library" and <a href="http://www.observer.com/2011/12/na-zdarovia-dmitry-rybolovlev-fertilizer-kingpin-buys-sandy-weills-88-m-penthouse/">prices have been going up at 15 CPW of late</a>. Fancy a good trade?</p>
<p><em>kvelsey@observer.com</em></p>
]]></description>
		<content:encoded><![CDATA[<p><div id="attachment_236343" class="wp-caption alignleft" style="width: 342px"><a href="http://nyoobserver.files.wordpress.com/2012/04/1030fifthave.jpg"><img class="size-full wp-image-236343" title="Better than 15 CPW?" src="http://nyoobserver.files.wordpress.com/2012/04/1030fifthave.jpg" alt="" width="332" height="242" /></a><p class="wp-caption-text">Better than 15 CPW?</p></div></p>
<p>Do you ever grow tired of looking out your window and seeing the same old sweeping views of the city? Apparently, <strong>Zachary Jared Schreiber</strong> and his wife <strong>Lori</strong> did. The couple is ditching their sprawling 33rd-floor apartment at 15 Central Park West for a sprawling 9th-floor apartment at <strong>1030 Fifth Avenue</strong>.</p>
<p>Both apartments have views of the park, <em>of course</em>, but one is from the west side and the other is from the east, and the new one has 55-feet of Central Park footage, which we imagine would be a very refreshing shift. Plus those sunsets.<!--more--></p>
<p>Or maybe Mr. Schreiber, the managing director at Duquense Capital Management just got tired of all the riffraff at 15CPW and was looking for something more exclusive?</p>
<p>Well, the couple most likely found it at the white-glove co-op, built in 1925 by J.E.R. Carpenter. They bought the full-floor, 6-bedroom apartment for <strong>$31.5 million</strong> from Cellular Communications co-founder <strong>George S. Blumenthal</strong>, according to city records.<strong><br />
</strong></p>
<p><strong></strong>The "baronial," sunlit apartment was listed with <strong>Warburg </strong>brokers <strong>Bonnie Chajet</strong> and <strong>Ronnie Lane</strong> for $35 million. Mr. Blumenthal has owned the co-op since 1995, when he bought it for a pittance—$5.7 million—according to the records of the Olshan Luxury Market report.</p>
<p>The six-bedroom apartment also features a gym, an eat-in kitchen, a library, powder room and wood-burning fireplace. There are too many en-suite baths and oversized closets to mention.</p>
<p>Will the Schreibers' be paying for the purchase of their new home with the sale of their old one?</p>
<p>Well, although the couple had their 15 CPW pad listed for a suspiciously-similar $31.5 million until last summer, it's been off-the-market since then.  The Schreibers bought it for only $11 million in 2005, but then it does fabulous sounding details like a "rich striped tiger maple paneled library" and <a href="http://www.observer.com/2011/12/na-zdarovia-dmitry-rybolovlev-fertilizer-kingpin-buys-sandy-weills-88-m-penthouse/">prices have been going up at 15 CPW of late</a>. Fancy a good trade?</p>
<p><em>kvelsey@observer.com</em></p>
]]></content:encoded>
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