Billionaire Marc Rowan Pays Millions For More Space In 927 Fifth Avenue

927 fifth avenue 500 Billionaire Marc Rowan Pays Millions For More Space In 927 Fifth Avenue

You'd probably roost here too if you got the chance

You can never have too much of a good thing, and 927 Fifth Avenue—red-tailed hawk controversies aside—is definitely a good thing. Or so Apollo Global Management managing director Marc Rowan and wife Carolyn seem to think.

The couple, who live on the exclusive co-op’s sixth floor, have paid $7.7 million for the space formerly owned by Robert Schwager, who died in 2007, according to city records.

Schwager, a prominent plastic surgeon, kept his offices on the ground floor of the building, which is classified, according to the deed, as commercial co-op space.

There’s no real estate listing for Schwager’s space, and it’s not clear if the Rowens plan to use it as a deluxe in-house storage locker or if Mr. Rowen, among the kings of leveraged buyouts, hopes to supplement his $1.5 billion fortune by renting it out as space.

Or maybe the Rowans just wanted a place to park a small portion of their vast fortune and the limestone building seemed like a good bet? After all, William Lie Zeckendorf recently sold his apartment for $34.6 million less than a year after he bought it for $29.1 million.

It is, of course, also popular with wildlife, but those birds are freeloaders.

kvelsey@observer.com