What a sporting day, here in city records. Not only has former Padres and current Mets manager Sandy Alderson bought a new home, but fellow San Diegan Dean Spanos has sold his spread at the Trump Park Avenue. Mr. Spanos is the son of Alexander Spanos, a Greek-born real estate magnate who bought the San Diego Chargers football franchise in 1984. Mr. Spanos took over 11 years later as CEO and president.
Located on the 18th floor of the prewar tower at 502 Park Avenue, the 1,813-square-foot two-bedroom condo sold for $5.3 million, down a smidge from the $5.5 million ask posted in April, though also nearly a million dollars more than Mr. Spanos paid for the unit in 2007–not bad for buying at the so-called height of the market. Old Al Spanos’ blood still clearly courses through his son’s veins.
It’s a terrace-a-rific apartment, as Michele Kelier and Sabrina Kleier Morgenstern‘s listing at Gumley Haft Kleier makes clear. “The huge corner master has a huge windowed walk-in dressing room, a terrace, and a spa-like bath with double sinks and separate bath and shower. The renovated eat in kitchen with carrera marble countertops also has a terrace with East and South exposures,” the mother-daughter team writes.
The buyer was 502 Realty LLC, which shares an address with Bolder Capital, a Chicago hedge fund run by Todd Hamilton. The same LLC also owns a unit on the 16th floor, a one-bedroom bought for $2.55 million in 2007. Will its owner be able to sell soon for a million-dollar windfall as well?