Finance Bigwig Becomes First to Close in Schnabel’s Village Palazzo—Pays $15.5 M.

Sure, heartland American real estate is continuing to tank, but onyx-gilded New York apartments are floating up higher and higher into the eight-digit stratosphere.

Take the just-completed $33.6 million deal for a three-unit duplex penthouse at Trump World Tower, the shiny monolith’s last sponsor units to sell. As reported on our Web site Monday, sources told The Observer that the Asian-American buyer will gut that 34-room spread.

But the story of William J. B. Brady, co-chairman of global technology for Credit Suisse, is somehow more spectacular.

Late last month, according to city records, he became the first buyer to close in Julian Schnabel’s new Palazzo Chupi. That 17-story pink-and-white palace at 360 West 11th Street is a former stable where the artist-filmmaker will live with reportedly just four other buyers. Bono may be one of them, according to reports.

The fact that Mr. Brady paid $15.5 million for “Unit 1” isn’t necessarily a shock. After all, city records from this past week alone show that the philanthropist Joanna S. Rose just paid $10.5 million for an unlisted estate co-op at 895 Park Avenue. Plus, the Plaza’s seventh $10 million-plus apartment deal was filed with the city on Monday.

But Mr. Brady’s purchase is particularly decadent, considering that he paid $6.95 million for a four-bedroom duplex penthouse at 744 Greenwich Street only three months and 11 days before signing his contract for the Schnabel apartment in August.

And, what’s more, city records put his billing address at a penthouse in the Millennium Tower.

But the Palazzo—described this week in New York as a fairyland of 12-foot doors, seven-foot fireplaces, antique Moroccan window dressings, giant claw-foot tubs and a shared pool—has more cachet than just about any other building in Manhattan. So Mr. Brady has put his Greenwich Street duplex, pictured here, on the market with Stribling.

The listing price is $12 million, which means the 48-foot great room and the master suite’s 23-foot balcony (and the bathroom’s towel warmer) will now cost almost twice what Mr. Brady paid in May—though, to be fair, his contract was first signed last year.

Mr. Brady did not return a call to his office.

Finance Bigwig Becomes First to Close in Schnabel’s Village Palazzo—Pays $15.5 M.