A $70 million contract has been signed on Edgar Bronfman Sr.’s 16-room, Fifth Avenue home, following a bidding war, The Wall Street Journal reports. The sale is poised to break the record for highest price ever paid for a co-op, and is $5 million more than the asking price. The current record is $54 million, which David Geffen paid in 2012 for Denise Rich’s Fifth Avenue triplex penthouse.
Downtown real estate appreciation is also mind-boggling: an artist who once payed $165 a month for his Soho loft and a short time later bought the building with friends has used the proceeds of that sale to fund a $2.7 million loft in Chelsea, The New York Times reports.
“Last spring, they walked into a storefront office of Brown Harris Stevens, where they met Bill Roche. They told him they wanted a place in the West Village. Their budget was around $1.4 million. ‘There weren’t a lot of options,’ Mr. Roche said. We would like to note that this couple, profiled in The New York Times was looking for a one-bedroom with two baths and a contemporary interior. They finally upped their budget to $1.5 million to buy a pad at the Printing House.
A judge has ruled that the Picasso will remain at the Four Seasons until she can hear from some more experts, according to the New York Daily News.
At MiMA, renters like the dog run and the gym, but puzzle over why anyone would want a screening room or a catering kitchen, Brick Underground reports. Moreover, one must actually pay more to use the catering kitchen.
Speaking of charging for luxuries, the Atlantic Cities believes that we should start charging people a lot more for parking spaces, particularly in peak usage times and prime locations. Of course, the problem with this theory applied at large is that outside of a few cities, public transportation remains insufficient.
A 45-year-old subway surfer was killed in Soundview when his head hit a piece of low-hanging equipment, DNAinfo reports; another subway surfer, also 45, died in October in a similar incident.