The Real Deal New York

Bear Stearns exec sells Park Ave. co-op

May 13, 2008 01:27PM
By Adam Pincus

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The senior managing director and head of public finance for Bear Stearns sold his cooperative apartment building on Park Avenue for $9.17 million, finance records posted today show.

Daniel L. Keating sold his 11-room unit in the pre-war building at 791 Park Avenue on May 2 to Gary Gelman for $800,000 below the asking price listed in February.

Keating is a longtime executive at Bear Stearns, one of the highest profile casualties of the mortgage meltdown. The company is being acquired by JPMorgan Chase, which said it had found positions for 40 percent of the 14,000 employees of the troubled investment firm.

Keating, who was once listed in the Wall Street Journal’s Who’s Who and What’s What on Wall Street, was not immediately available for comment on the apartment sale, an associate in his office said.

The building at 74th Street includes amenities such as two fireplaces and a maid’s rooms.
 

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