The Real Deal New York

Former US ambassador, neighbor join forces to sell $74M pad at 1060 Fifth

Bruce Gelb’s apartment hit the market solo in April for $65M

June 20, 2016 01:00PM
By E.B. Solomont

From top: 1060 Fifth Avenue #10B and 1060 Fifth Avenue # (inset from top: Bruce Gelb and Joseph Siegelbaum)

From top: 1060 Fifth Avenue #10B and 1060 Fifth Avenue #10BC (inset from top: Bruce Gelb and Joseph Siegelbaum)

If businessman Bruce Gelb’s $65 million aerie at 1060 Fifth Avenue wasn’t quite exclusive enough, the former U.S. Ambassador to Belgium is now offering his aerie in combination with a neighbor’s unit for $73.8 million.

Gelb, a pal of George H.W. Bush, and his neighbor Joseph Siegelbaum, a partner at Goodwin Procter LLP, listed their adjacent, 10th-floor co-ops over the weekend. Siegelbaum’s seven-room pad is also listed on its own, asking $8.8 million.

Broker Dolly Lenz, who is representing both sellers, was not immediately available for comment.

Gelb first listed his 15-room pad in April, asking $65 million for the spacious six-bedroom, six-bath spread with panoramic views of Central Park.

Siegelbaum’s smaller unit has two bedrooms and 2.5 baths, as well as a wood-burning fireplace, formal dining room and expanded chef’s kitchen.

Property records show Siegelbaum and his wife, Sue Ann Siegelbaum, have owned the co-op for at least 13 years, while Gelb and his late wife owned the neighboring unit for several decades.

The Gelbs’ unit alone – not to mention the combination — would set a new record for the building. That title currently belongs to SAB Capital’s Scott Bommer, who sold his duplex at 1060 Fifth in 2007 for $48.9 million, after buying it seven months earlier for $46 million. More recently, Bommer flipped three Hamptons properties for $110 million after paying $93.9 million for the trio in 2014.

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