It's been on the open market for less than a month, but the sprawling Fifth Avenue penthouse owned by the late billionaire Edgard Bronfman, Sr. has reportedly gone into contract for a record-breaking $70 million. The 16-room home was listed for $65 million, and according to the Post, a bidding war between two unnamed rich folk upped the price to $70 million. If the home sells for that amount, it would smash the record for the most expensive co-op ever sold in the city, currently held by David Geffen's $54 million buy at 785 Fifth Avenue. Bronfman's pad at 960 Fifth Avenue features a killer wraparound terrace, but a buyer would need to drop millions more on renovations. The Post's source says, "It needs a complete gut renovation. It is nothing like what you would build today. It doesn't have the right flow." As the listings photos show, the place is just a tad dated.
Last October, before the Bronfman penthouse was even rumored to be on the market, a deal at 828 Fifth Avenue was made that would have broken the co-op record by even more. Russian billionaire Roman Abramovich was all set to pay a mindboggling $75 million for the co-op building's gilded mansion apartment, but the deal fell apart in January when the owner, heiress Angelika Ivanc, decided that she thought she could get even more for the place. The home was last listed for $72 million, and it hasn't yet returned to the market.
· $70M contract could be most expensive NYC co-op sale ever [NYP]
· Record Price for Manhattan Co-op Reaches $70 Million, Brokers Say [WSJ]
· Listing: 960 Fifth Avenue, PH [BHS via StreetEasy]
· Inside Billionaire Bronfman's Fifth Ave. Penthouse, Asking $65M [Curbed]
· All 960 Fifth Avenue coverage [Curbed]
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