Friday, August 10, 2007

The Apartment Booze Bought

BUYER: Edgar Bronfman Jr.
LOCATION: 1040 Fifth Avenue, New York, NY
PRICE: $19,500,000 (list), maintenance $8,614/month
SIZE: 5 bedrooms, 5.5 bathrooms
DESCRIPTION: Beautifully decorated family apartment in one of Rosario Candela's best building. Expansive views of Central Park, Fifth Avenue and the Metropolitan Museum. The apartment has large reception rooms including a living room with wood burning fireplace and a well appointed dining room, each with vie2s of the park. The library has a wood burning fireplace. There are five bedrooms, each with bath, a large kitchen with butler's pantry and laundry area, a staff room with bath and a playroom.

YOUR MAMAS NOTES: The children have been shouting and ringing Your Mama's bell for more stories about New York City real estate deals. And of course we want the children to be happy, so your wish is our command. Edgar Bronfman Jr. is a scion of the Seagram's booze empire, which in effect no longer exists as a family run business having been purchased in 2000 by Pernod Ricard. In fact, it's Efer, as he's known in his intimate circles, that's responsible for diversifying the Seagram booze empire to include entertainment arms that at one time or another have included Polygram, Vivendi, Universal Pictures, and Warner Music.

Rumor has it that the scruffy faced and good looking twice dee-vorced father of six who also dabbles in producing films and Broadway theater, as well as songwriting, has finally found a buyer for his townhouse at 15 East 64th Street on the Upper East Side of Manhattan. Hang on to your hats children, because all the reports and rumors say the super rich tycoon is getting upwards of $50,000,000 for the 15,000 square foot mansion. Property records indicate our Mister Bronfman is cleaning up on this sale. Lucky bastard bought the house in 1994 for just $4,375,000. Not a bad return on his investment.

So now that he's sold the big fancy townhouse, he's got to find another place to sleep at night. And according S. Jhoanna Robledo in a recent article in New York Magazine it appears the sexy songwriter may have in fact found his next nest: 1040 Fifth Avenue. All you property freaks that follow the New York City real estate scene will recognize that very famous address as being the Rosario Candela designed building where Jackie-O long occupied a full floor unit on the 15th floor. After Miz Jackie Bouvier Kennedy Onasis met her maker in 1994, the apartment was bought and renovated by billionaire David Koch who has since moved on to a much larger duplex apartment at 740 Park Avenue.

Anyhoo, if Miz Robledo is to be believed, and she probably is, the sprawling apartment Mister Bronfman Jr. is reported to be buying occupies a high floor corner overlooking Central Park and the Temple of Dendur at the Metropolitan Museum of Art. Traditionally laid out with graciously proportioned rooms, the 11 room co-op features a private elevator landing, long and wide living and dining rooms, a cozy library (natch), 3 principle bedroom suites, plus a master suite at the rear of the unit that encompasses a large bedroom with fireplace, a dressing room, two walk in closets and two bathrooms. Additionally we find a large eat in kitchen, with commodious and enviable butler's pantry.

And of course, as we see in so many of the grand old apartments in New York, there is also an itty bitty staff room with bath at the back of the apartment. In this case, there's also a "playroom" back there, because heaven forbid the children actually play in the living room where the adults gather.

Somebody please tell Your Mama that all the filthy rich folks on the Upper East Side aren't still squeezing their staff into those cell like rooms. What would OSHA have to say about these cruel and unusual living conditions? Please. Listen up Richie Riches all up and down Park and Fifth Avenues, start buying nearby apartments to house your staff. It's really the only humane way to house your staff nowadays.

Your Mama would critique the decor, but really, what's the point? Mister Bronfman Jr. will surely rip the place apart and have his team of nice gay decorators overhaul the place into a sophisticated aerie commensurate with his position as a titan of the New York business world. Hopefully he will start with that drab and oddly configured kitchen. The dark floors are lovely, but do you notice the washer and dryer just hanging out there all exposed? Certainly this set up is acceptable in a trailer home, but not in a $20,000,000 apartment on 5th Avenue, one of the most famous and highest priced streets on the planet.

P.S. Y'all can ridicule and sass Your Mama all you like, but we are feeling that animal print carpeting in the library deep down in our soul. For some reason these animal print carpets are rubbing up on our happy spots lately.

Sources: Vertex Realty Group, New York Magazine, The City Review,

28 comments:

luke220 said...

I prefer 834 Fifth. Any info on Rupert Murdoch's new coop there?

RLT said...

Mama, I'm thinking that the bedroom just below the W/D is meant to be the staff bedroom and the staff/laundry room is meant to be a kind of sitting room where the staff hangs out when not toiling for their masters...or when folding/ironing what few items of clothing are not sent to dry cleaners.

Anonymous said...

Thanks Mama

So good to get back to Manhattan!

Anonymous said...

What a great old building. Mama can you or any readers dig up some photos of Jackie O's former apartment. Kinda of shocking to see the interior of this unit. Mama, I swear to God if you go any Wendy's you will see those dining room chairs in any one of their fast food stores. Child, lord help us.

Phoenix said...

Just an observation about swanky 5th Ave. & Park Ave. 'serious' decorating. I recall thinking how the color of the dining room in Vera Wang's Park Ave. apartment reminded me of pea soup. Now here we have a 5th Ave. counterpart with a library the color of tomato soup. Is it just me, or did anyone else notice or think of that?

D Alexander said...

Im sorry, but $20 mil for that is ridiculous. American real esate is bound for a correction at some point. Prices are not in line with reality.

Anonymous said...

"Please. Listen up Richie Riches all up and down Park and Fifth Avenues, start buying nearby apartments to house your staff. It's really the only humane way to house your staff nowadays."

Hear, hear!

Apparently, the kitchen is only for staff as well, considering the seating.

Big place. Love these old buildings, though.

Anonymous said...

phoenix - you may be on to something. Who knew one of the keys to high end New York decorating was hiding in our own little cubboards under the humble disguise of a Campbells label - lol

Anonymous said...

This apartment looks rather sad for the $20 million dollar price. I've said it before.. stick a snob appeal sticker on something and people with more money than sense buy bolonia too.. at caviar prices of course.

Anonymous said...

PEOPLE! It's ridiculous to go on & on about the interior ... I would hazard a guess that the apartment has been owned by the same person for the past 40 odd years or so ... Like most of the co-op buildings on the upper east side & central park west ...

"Im sorry, but $20 mil for that is ridiculous. American real esate is bound for a correction at some point. Prices are not in line with reality."

$20M is CHEAP for 5th Av!

Anonymous said...

"$20M is CHEAP for 5th Av!"

And it takes a pound of common sense to utilize each ounce of intelligence. Your point?

Anonymous said...

If people with more money than they know what to do with want to shell out $20 mil for an apartment like this, more power to them. I know I can do alot better for alot less, so it's no skin off my nose, and makes it rather difficult to envy them. Each to their own I guess.

Anonymous said...

Yah but is there air conditioning?

Anonymous said...

very interesting, i've always wondered about the layout & interior of these high $ apts.

what does $8k/monthly maint. mean?

Phoenix said...

Anon @ 6:49 AM, a co-op or condo maintenance fee is similiar in nature to a neighborhood homeowners association fee. It is an amount each resident is charged monthly to maintain and operate the building, and for upkeep and amenities that fall beyond the boundaries of your particular unit. In this case such things as doormen, security guards, parking garage attendants, common area utility and cleaning costs, exterior window washing and building repair, and on and on.

Phoenix said...

Oh, and depending on the setup, it can and often does include things like cable TV service, internet access, and things of that nature, anything the building has that's group rather than individually contracted.

luke220 said...

Unlike a condo fee, in a coop the fees also include real estate taxes and can include an underlying mortgage held by the corporation.

Anonymous said...

A big portion of the monthly fee is for property taxes. Imo a co op is much more desireable in new york high end properties than a condo. Anyone can be denied from buying one. Usually that keeps celebrities out.

Phoenix said...

Yes, there's alot included that's easy to take for granted and forget about. Another large expense covered is building insurance.

luke220 said...

There is a great book about a NY coop- "740 Park: The Story of the World's Richest Apartment Building". Edgar's father used to live in the penthouse along with a lot of Campbell's soup money in the building.

Anonymous said...

"And it takes a pound of common sense to utilize each ounce of intelligence. Your point?"

Exactly what I said. Perhaps it's you lacking in intelligence.

Anonymous said...

Intelligent or not, $20 million sure dosen't buy what it used to in places like N.Y. and L.A. I agree with d alexander that sooner or later a price correction is going to occur, and when it does the bigger the fall the greater the pain.

luke220 said...

Corcoran has 14A at 1040 Fifth listed at $25,000,000. The website shows a different style and on 14, a balcony.

http://www.corcoran.com/property/
listing.aspx?Region=NYC&ListingID=1031349

Anonymous said...

"Intelligent or not, $20 million sure dosen't buy what it used to in places like N.Y. and L.A. I agree with d alexander that sooner or later a price correction is going to occur, and when it does the bigger the fall the greater the pain"

Try buying an apt in the European capitals then you will realise that N.Y and L.A are extraordinary cheap!

Anonymous said...

I'm not understanding your indefatigable efforts to convince us that N.Y. and L.A. are 'extraordinarily cheap', but I can say with certainty that even the wealthiest residents of each city would hasten to disagree.

Anonymous said...

Thanks for the wonderful news mama, My husband does all the custom wood work for EB. Looks like he'll be very busy.

Anonymous said...

$20,000,000 huh! Well in Western NY I can by 1,000 acres of rolling land, build a wind turbine to create free lifetime energy, build a presentable and profound 14,000 sq. ft. compound (that's all I would need), furnish it, equip the 10 car garage with a few of my favorite vehicles, and still have $13,000,000 left. With that invested in Government Bonds yielding 7%, I will make $910,000 every year until I die ... then my kids get it. That $910,000 will buy more than enough 1st class air tickets, and rooms at any hotel I want, anywhere I want for a very, very long time.

Anonymous said...

The apartment 14A at 1240 Fifth Avenue has the same floor plan as Jackie O's apartment.