We bet Howard and Nancy Marks didn’t bat an eye when they forked over $52.5 million for the Courtney Sale Ross duplex at 740 Park Avenue, setting a record for the most expensive co-op ever. After all, $52.5 million is pocket change when you manage a $75 billion investment group.
Unlike those who watched their fortunes deplete or disappear during the recession, Mr. Marks, the co-founder, principal and chairman of Oaktree Capital, managed to enhance his by investing billions in distressed debt. With so much cash burning a hole in their pockets, it looks like the couple was just waiting for the chance to pick up a phenomenally expensive apartment (albeit at something under the $60 million ask).
For those in the know—and with Scrooge McDuck quantities of money piled high in their private vaults—Courtney Sale Ross’ apartment at 740 Park has been sitting quietly on the market for the past several years. Abandoning the whispering tactic, the listing for Ms. Sale Ross’ home has hit the open with a resounding boom. It is still seeking the same $60 million it has been since 2008, changing times be damned.
The listing went public yesterday, and the thirty room duplex has our mouths watering. Kathy Sloane of Brown Harris Stevens, the broker representing Ms. Sale Ross, takes full advantage of the building’s pedigree in her listing.
Marty Richards‘ duplex at the River House has 14 rooms, and it seems like The Observer has written as many stories about the home in the decade-plus the famed producer has been trying to sell it. Finally, this reporter might be out of a job, as the home has sold.
Not just in contract, Read More
Residents of the River House, the once-superlative East River enclave wedged behind wrought-iron gates on a cul de sac on East 52nd Street, are familiar with the sting of revenge. The famously exclusive co-op lived through a lawsuit brought against them by Gloria Vanderbilt when she was not even granted her board interview Read More
Earlier this year, ex-Morgan Stanley vice chairman Bruce D. Fiedorek quietly wanted around $45 million for his enormous fifth-floor sprawl at the enormously fancy co-op 998 Fifth Avenue.
For one reason or another, Mr. Fiedorek was not quite ready to publicly list the apartment, or talk about it: “I have no reason to discuss Read More
By the rules of New York real estate, the greatness of any apartment saga is measured by its eccentricity, length and weight. So a furious but short-lived fight over a condo is trumped by a run-of-the-mill but lengthy feud over a co-op, which is trumped by an epically long, cinematically peculiar struggle over a rococo Read More
On Monday, the rare-maps dealer W. Graham Arader III was in the passenger seat of his black Mercedes SUV, thinking about all the wealthy people who have not bought his 12,000-square-foot, 22-room, 10-bedroom townhouse at 1016 Madison Avenue. “People have been clubbed to death by recent events,” he said. “The seals in Alaska had it Read More
Last November, Kathy Sloane was in the Four Seasons Restaurant for the French-American Foundation’s annual gala, wearing a baby-blue ball gown so vast that its train got stepped on the minute she walked in. A tuxedoed Rothschild heir was speaking about the economy from a podium: “We will come up,” he said, “more alive than Read More
Not that it takes a sociology wiz to grasp that showiness falls out of vogue during a recession, but the amount of Manhattan’s so-called quiet listings—prim apartments and townhouses offered with gargantuan asking prices but no public listings—is getting mind-boggling.
According to two sources, a fifth-floor apartment at 998 Fifth Avenue, the McKim, Mead Read More
On July 16, Loews Corporation co-chairman Jonathan Tisch, whose father and uncle founded the multibillion-dollar conglomerate, paid a record $48 million for a co-op at the legendarily tyrannical 2 East 67th Street.
Loews’ share price hit $44.13 that summer day, and the Dow was over 11,308.
At the end of this Monday, Read More