America’s 219th Richest Person (It’s Oil Money) Takes Top of 550 Park

Talk about a slick deal!

A trust belonging to Lynn Schusterman just paid $11.5 million for a three-bedroom co-op atop 550 Park Avenue. Forbes ranks the Kansas City-born, Oklahoma-bred Ms. Shusterman as the 219th richest person in America, with a wealth of $2 billion. Most of that money comes from an oil fortune created by her late husband, David Schusterman. Samson Energy is the largest privately held energy producer in the country, and it is run by daughter Stacy, whose name also appears on the deed.

This new home is not the Tulsans’ first foray into the city, as their eponymous foundation, which invests heavily in Jewish causes, has scattered the Schusterman name across New York. There are Schusterman Rabbinical Fellows at the Jewish Theological Seminary and Schusterman Postdoctoral Fellows at N.Y.U.’s Taub Center for Israel Studies, and who could forget the Schusterman Outreach Weekend Breakfast and Panel in Scarsdale this February?

“That’s a beautiful apartment,” said Brown Harris Stevens’ John Burger, who sold a combo six-bedroom on the ninth floor three years ago for $20 million. “When you’re that high up at 550, you’re clear to the park. It’s got big windows, high ceilings, and is very nicely renovated.” That redo was undertaken by former American Express CEO James Robinson, who sold the home in 2000 before moving up to 778 Park. It went to another Southerner, Nashville investor Thomas Frist, who sold it four years later to hedge fund manager Charles Coleman, who paid $7.2 million for the spread. Looks like another savvy investment for him.

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mchaban [at] observer.com | @mc_nyo

America’s 219th Richest Person (It’s Oil Money) Takes Top of 550 Park