Jeff Blau, the CEO of Related Companies, dropped his 10-room apartment at 1040 Fifth Avenue onto the market for $43 million (h/t Real Deal). In any other city, that kind of asking price might be called "bonkers" or "mind-boggling," but with all the $90 million and $100 million listings sitting on the market in New York City these day, a $43 million price tag doesn't seem like that much to our warped minds. Heck, it's not even a record asking price for the Rosario Candela-designed building. It merely tied the record ask. Pathetic.
Blau bought the unit in January 2008 for $21.42M, and for three of the last five years, it's been undergoing extensive renovationsmore pictures hereby Shelton, Mindel and Associates
(the brokerbabble says the end result was "recently featured" in Architectural Digest, but we can't find it). The end result was featured in Architectural Digest in 2011. The sumptuous apartment has an equally sumptuous floorplan, which shows a large corner living room with a wood-burning fireplace, a library, a kitchen with a dining nook and staff quarters, and a master suite with a sitting room and terrace.
· Listing: 1040 Fifth Avenue, #14A [Corcoran via StreetEasy]
· Jeff Blau asks $43M for 1040 Fifth Avenue co-op [TRD]