Jon Tisch, who is chief executive of the Loews Hotels division of his family’s empire, has just signed a contract for the loneliest apartment on Fifth Avenue, the third- and fourth-floor duplex at No. 950. (Through a spokesman, Mr. Tisch said he “doesn’t comment on personal things.”)
Mr. Tisch-who is reportedly in the process of splitting from his wife, Laura Tisch, the daughter of the chief executive of Reliance Group Holdings Inc., Saul Steinberg-was living in the couple’s apartment on Park Avenue. His new bachelor pad has 10 rooms and around 5,000 square feet.
But, according to real estate brokers, the apartment has been sort of a cursed place, and not because people don’t want to see the owner of the building’s penthouse, short-attention-span press baron Mortimer Zuckerman, in the elevator. Rather, it’s due to the modernist redesign given the apartment by architect Robert A.M. Stern: “lots of white marble,” as one witness put it, throughout the prewar place. Most multimillionaires’ esthetics run toward something more, well, Versailles-esque.
This “very contemporary” apartment, according to one broker, was initially for sale for $7 million in 1994. The price has dropped steadily since then, even as everything else on Fifth Avenue has sold almost immediately for ridiculous prices. In 1995, it was listed at $5.9 million; later that year, it went to $5.75 million. When Mr. Tisch said “I’ll take it” at the beginning of December, the price hadn’t changed. Maintenance is $5,238 per month.