realestate

Luxury Manhattan Co-op Sells for Record-Breaking $54 Million

East Side co-op sells for $53.5M after listing for $70M in May 2023.

A
prewar co-op at 960 Fifth Avenue has changed hands for a staggering $53.5 million, according to public records. The sale of Unit 12, which hit the market in May 2023 with an asking price of $70 million, includes two staff rooms on the third floor. The eight-bedroom, seven-bathroom apartment boasts five wood-burning fireplaces and 11- to 13-foot ceilings, with ten windows offering breathtaking views of Central Park.

    The buyer's identity remains hidden behind a trust, a common practice in high-end real estate transactions. The seller is the estate of Anne Hendricks Bass, a former oil heiress who passed away in 2020. The Rosario Candela-designed building offers luxurious amenities, including a private restaurant, in-house chef, rooftop fitness center, and rooftop terrace.

    The sale marks one of the most expensive co-op deals so far this year, with a 30% discount from the original listing price. This reflects the current state of the co-op market, which saw median sales prices fall by almost 8% last quarter. The building has a history of attracting high-profile residents, including members of notable families like Estée Lauder and SABMiller.

    Compass' Alexa Lambert had the listing for Unit 12, having previously sold Barbara Walters' apartment at 944 Fifth Avenue to Michael Ovitz's partner, Tamara Mellon, last year.

Manhattan luxury co-op sells for record-breaking $54 million in New York City.