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On Flipping and Fish Bones

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The Observer's Max Abelson delves into hedge fund dude Scott Bommer's $48.9 million flip at 1060 Fifth Avenue last week?the biggest Manhattan co-op deal to date?and wonders if flipping is a gauche no-no along the Gold Coast. He tracks down Glenn Greenberg, ex-husband of the woman who sold the spread to Bommer in January for $46 million. His take: "Sometimes a cigar is just a cigar, is what I'm saying. Sometimes it's no more complicated than somebody changes their mind and the opportunity presents itself. And they go live in something that suits them better." And did the $46 million his ex netted in January upset him? "When my ex-wife got the apartment, I got most of the stocks. It's not like I'm here eating fish bones." [NYO]