John Cushman and 721 Fifth Avenue (building photo: PropertyShark)
John Cushman III, co-chairman of global real estate company Cushman & Wakefield, sold his 1,092-square-foot condominium at Trump Tower at 721 Fifth Avenue in Midtown for $2.62 million.
Cushman, along with his wife Jeanine and the Cushman Family Trust, all based in Los Angeles, were listed as the sellers of the condo, on the 51st floor of the 68-story tower between 56th and 57th streets.
The sale to Hillel Nahmad, a member of a prominent art dealer family, went into contract in July and closed Oct. 6, city property records published yesterday show.
It was Nahmad’s fourth purchase on the floor since 1999. With his three neighboring units he now owns 5,863 square feet on the floor, which has two additional apartments, public records reveal.
In April this year, the Cushmans sold their four-bedroom, 5,000-square-foot Los Angeles-area home for $3.25 million, in order to move to a luxury condo in Pasadena, reports indicated.
Cushman was not immediately available for comment.
Cushman began working for his grandfather’s firm in 1963. He left after Rockefeller Center bought the brokerage in 1975, and in 1978 he formed a competing firm called Cushman Realty. He returned to Cushman & Wakefield after the firms merged in 2001 and took the title of chairman of the board. He and former CEO Bruce Mosler now share the position of co-chairman.