The Real Deal New York

Hedge-funder flips Ritz CPS condo for $30M

August 19, 2011 06:33PM
By Katherine Clarke

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Scott Bommer and 50 Central Park South

Hedge-fund manager Scott Bommer, the man who set a record by flipping a Carnegie Hill co-op unit at 1060 Fifth Avenue for a jaw-dropping $48.9 million in 2008, is at his old tricks once again, having just sold a unit at the Residences at the Ritz-Carlton on Central Park South, according to public records filed with the city last week.

His full-floor apartment on the 29th floor at the Ritz, at 50 Central Park South, sold to a mystery limited liability company for $30 million, $1.5 million more than he purchased it for in July 2008. The buyer lists its address as a law firm based in Miami, Fla. A call to the office of the law firm went unanswered.

Bommer, the founder of SAB Capital, tapped Leighton Candler of the Corcoran Group to market the 5,800-square-foot U-shaped unit in November 2008 for $35 million and it was taken off the market at various intervals during the financial crisis.

Neither Bommer nor Candler could immediately be reached for comment.

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