David Geffen Snaps Up Denise Rich’s Fifth Avenue Penthouse for $54 M.
Apparently, Dreamworks co-founder David Geffen doesn’t take the biblical commandment “thou shalt not covet they neighbor’s house” very seriously. He’s gone ahead and purchased the 20-room duplex penthouseat 785 Fifth Avenue from his upstairs neighbor Denise Rich for a record-setting $54 million, according to The Wall Street Journal. The previous co-op record was set this spring, when Oaktree Capital Chief Howard Marks purchased the Courtney Sale Ross apartment at 740 Park for $52.5 million.
Ms. Rich listed the crazy spread for $65 million in January with Corcoran brokers Noble Black, Chazz Levi and Bonnie Pfeifer Evans, who claim that at 12,000-square-feet it is the largest apartment ever offered on Fifth Avenue (although measuring square footage in co-ops is a notoriously imprecise process). And while Ms. Rich didn’t get full ask, she got more than anyone else ever has before. And we thought that maybe the trophy hunting season was over! How many pseudo trophy listings will Ms. Rich’s enviable sale spawn? Read More
