realestate

Newman-Woodward NYC Estate Sells for 40% Above Asking Price in Heated Auction

Luxury Fifth Avenue residence listed for $9.95 million sparks intense interest.

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Manhattan co-op once owned by Paul Newman and Joanne Woodward has sold for $14 million, a whopping 40% above its asking price of $9.95 million. The Fifth Avenue property had been on the market for just three weeks before a contract was signed.

    The 3,000-square-foot co-op, located at 1126 Fifth Ave, spans half of the top floor and features two spacious terraces with breathtaking views of Central Park and the Jacqueline Kennedy Onassis Reservoir. Newman and Woodward purchased the unit in the 1980s and reconfigured it from a two-bedroom to a one-bedroom, using the spare room as a library.

    The property was used as a second home by the Oscar-winning couple for decades before Newman's passing in 2008. The sellers, represented by Douglas Elliman agents Noble Black and Jennifer Stillman, received over 50 inquiries and nearly a dozen offers, including one from a buyer willing to pay over $14 million. However, that offer was rejected due to concerns about the co-op board's approval.

    The successful new owners, a couple in finance represented by Brown Harris Stevens, remain anonymous. The property's history is steeped in glamour, with Clea Newman Soderlund recalling how her parents' terraces once hosted A-list celebrities and presidents, including Tom Cruise, Cher, Barack Obama, and Bill Clinton.

Newman-Woodward NYC estate sells for 40% above asking price in heated auction.