BUNGALUX

July 19, 2012

A New York Minute: Manhattan Real Estate Gossip

Steve Wynn, Huguette Clark, and Others

Steve Wynn's New Penthouse

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Thanks to the unnamed Manhattan birdie who whispered some wonderful New York gossip in my ear, today’s article promises to be a juicy one.

Like other luxury markets, the Manhattan real estate market has been en fuego, thanks to some impressive transactions by well-known businessmen (and women!). In fact, though Manhattan megasales were pumped up by foreigners in the past, these days it’s been quite a few Americans buying.

Let’s start with Casino King Steve Wynn. Steve was rumored to have wanted to purchase the late Teddy Forstman’s apartment at 2 East 70th but it didn't quite work out that way. The apartment listed for $36 million and sold in a few days for $40 million. (Yes, over asking prices are happening even on megasales.) The lucky buyer of one of the city’s most stunning places was Laure Sudreau-Rippe, who has been a minority holder in Amsterdam-based Louis Dreyfus Holding BV, one of the world’s largest agricultural and trading companies.

Feeling sorry for Steve for missing out? Don’t!

One of our favorite tastemakers, Steve bought Christopher Jeffries' duplex at The Ritz Carlton at 50 Central Park South, according to the Wall Journal for $70 million, slightly under the $77.5 million asking price. The 10,882-square-foot apartment has dues of an astonishing $18,057/month.

Wanna be in Steve’s building? If so, we featured HOWARD MARKS’ 4500 SQUARE FOOT TWO BEDROOM CONDO at the Ritz Carlton as our House of the Day on Wednesday. The apartment was just listed with an asking price of $50 million and was done by Michael Smith & Oscar Shamanian. If you’re looking for a two bedroom in this price range, pull out your checkbook.

Speaking of checkbooks, other recent sales of some of our favorite Manhattan properties include THE STANFORD WHITE MANSION ON FIFTH which townhouse queen Paul Del Nunzio just sold for $42 million, slightly under its asking price, and one of Huguette Clark’s apartments. HUGUETTE CLARK’S APARTMENT #12W was bought by Hedge Funder Boaz Weinstein for a reported $25.5 million. The rumor was that the two eighth floor units caught a Qatari shekh’s eye, but he was quietly told he most likely wouldn’t pass the board (who doesn’t look favorably on multiple wives).

Finally, David Geffen purchased Denise Rich’s duplex co-op penthouse – located directly above his current place at 785 Fifth Avenue – for $54 million. David will not combine the 12,000 square foot apartment with the one downstairs; in fact, we’re hearing that he’s going to renovate his new one and then sell his.

According to the New York Post, numerous foreign buyers had come close to purchasing the apartment before being stiff-armed by the strict co-op board. As for Rich, well, she's doing what any self-respecting rich person would: She is renouncing her U.S. citizenship to avoid paying U.S. taxes and is moving abroad.

That’s it for this week’s New York Minute. Thanks to our source, and keep in mind we’re always looking for worldwide real estate stories, so email them in and we'll feature them ... anonymously or not, your choice.