Photo: Brown Harris Stevens
Edgar Bronfman’s 960 Fifth Avenue penthouse has traded for a record-breaking $70 million — the most expensive co-op sale in the city’s history.
The deal hit public records late last week, revealing the buyer as Egyptian billionaire Nassef Sawiris, the head of Orascom Consruction Industries, the New York Daily News reported. The previous top co-op sale was music mogul David Geffen’s $54 million purchase of a penthouse at 785 Fifth Avenue in 2012.
The five-bedroom spread at 960 Fifth Avenue was listed in February with an asking price of $65 million; it comes with 8.5 bathrooms, four staff rooms, library, five fireplaces, built-in safe and a kitchen with a separate breakfast room, dining room and pantry. The family of Bronfman, former chairman of the Seagram Co. and president of the World Jewish Congress, put the property up for sale after he passed away in December 2013.
Unlike most moneyed buyers who use LLCs to shield their identities, Sawiris purchased the apartment in his own name. The residence will reportedly require renovations, but hey, there’s a thoroughly wraparound terrace in the layout below:
