Biggest NYC Real Estate Sale of the Week: $19.5 Million

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Biggest NYC Real Estate Deal

According to New York City records, the largest real estate deal of the past seven days was worth $19.5 million, and was for a nine-room condominium on New York’s legendary Fifth Avenue’s Museum Mile.

The condominium encompasses the entirety of the building’s ninth floor at 988 Fifth Avenue, and has breathtaking views of both Central Park and of the Metropolitan Museum of Art.  Offering 3,500 square feet of living space, the residence is in a building that was constructed in 1925 in the Italian Renaissance Palazzo style.  Designed by James E.R. Carpenter, the building is one of the very few pre-WWII constructions on Fifth Avenue, and was converted into condominiums in 1981.

The residence is completely private, like all other residences in the building with only one condominium per floor.  Featured are four bedrooms, five bathrooms, a private elevator and three fireplaces.

Representing the seller Selig Zises of software company MangoSoft was Marcy Grau of Stribling and Associates, and the buyer, who requested anonymity, was represented by David Kornmeier of Brown Harris Stevens.

In another big Manhattan deal this week, a roomy TriBeCa loft at 140 Franklin Street was sold for $14.3 million after a heated two-week bidding war in which the loft sold for $1 million more than its asking price.  The lucky winner is Millard S. Drexler, chief executive of the J. Crew Group.  Drexler is also the owner of Andy Warhol’s Montauk estate, which he purchased in 2007 for $30 million.

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