The Real Deal New York

Israel Englander’s daughter unloads Park Ave. pad at a loss

Co-op unit at 960 Park was asking $13.5M — $2M less than the 2014 sale price

August 22, 2016 09:31AM
By E.B. Solomont

960 Park Avenue

960 Park Avenue

UPDATD: Aug. 23, 4:49 p.m.: Laura Englander Levin, daughter of billionaire hedge fund manager Israel Englander, has found a buyer for her tony Park Avenue co-op — after asking $2 million less than she paid in 2014.

Levin, a dermatologist in Manhattan who is married to author Daniel Levin, listed Unit 10E at 960 Park Avenue for $13.5 million in April, a steep discount from the $15.5 million she paid in 2014. The unit went into contract last week, according to Olshan Realty

The five-bedroom J.E.R. Carpenter-designed apartment has a massive corner living room, library and eat-in kitchen. Judith Lederer, who recently moved from Town Residential TRData LogoTINY to Douglas Elliman, had the listing.

Levin bought the apartment in the 1912 building from longtime owners Kathryn Bregman, a veteran Douglas Elliman broker, and her husband, Morgan Stanley Senior Vice President Robert Bregman. The pad hit the market at that time asking $18 million, before getting price-chopped to $16.5 million.

Levin’s father, who founded hedge fund Millennium Management, paid $71.3 million for a duplex co-op at 740 Park Avenue in 2014, smashing the record for co-op prices in Manhattan. He also owns an apartment on the 14th floor of the building.

Overall, 16 apartments asking $4 million and up were put into contract last week, according to Olshan Realty’s weekly market report. That’s down from 21 during the same week last year and 26 in both 2014 and 2013.

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