We always knew Jonathan Sobel had a way with money. And now the former Goldman Sachs partner has done it again. Not only did Mr. Sobel shift from one of the finest buildings on the Upper East Side to perhaps the finest building in the all of Manhattan, but he managed to pocket $2 million in the process.
Talk about arbitrage!
Earlier this year, former Goldman Sachs partner Jonathan Sobel reluctantly agreed to sell his stunning Charles Gwathmey penthouse at the Verona for $21 million. And no wonder! It appears that Mr. Sobel and his wife Marcia Dunn had their eye on a 15-room duplex at that most glorious of all the glorious Upper East Side buildings: 740 Park Avenue.
Mr. Sobel and Ms. Dunn have filed documents with the city indicating that they are purchasing the shares for the sprawling four-bedroom C-line spread that spans the fourth and fifth floors. The apartment was most recently listed for $23 million with Sotheby’s brokers Meredyth Smith and Serena Boardman.
After nearly four years on the market and a $12 million price reduction, co-op 4/5 C at 740 Park Avenue has finally found a buyer. And just when it had been empty long enough to attain spooky apartment status among the building’s exceedingly well-heeled children! What door will they dare each other to run past now? Perhaps Madoff crony Ezra Merkin’s will do?
The 15-room duplex, listed with Sotheby’s brokers Serena Boardman and Meredyth Smith for $23 million, is now in contract, according to the Olshan Luxury Market report (it was also last week’s biggest residential contract, broker Donna Olshan reveals).
The deal, coming close on the heels of the record-for-a-co-op sale of Courtney Sale Ross’ apartment to Oaktree Capital Chief Howard Marks, means the end of available units at the most venerated of all New York addresses.