The Real Deal New York

Brooke Astor apartment sells at 50 percent off

October 10, 2011 01:19PM

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778 Park Avenue and Brooke Astor

The late Brooke Astor’s apartment at 778 Park Avenue has been sold for
$21 million, about 50 percent less than its original 2008 asking price
of $46 million, the New York Post reported. The buyer is an unnamed
New York-based businessman.

“He is not a boldface name,” according to a source, who added that the
buyer will likely pay an additional 3 percent “flip” tax towards the
co-op board’s reserve fund.

The co-op board at the building, between 73rd and 74th streets, had previously rejected prospective buyer
Donald Forcart,
a Swiss investment manager, for the unit.

The 15th and 16th floor duplex includes five bedrooms, 4.5 bathrooms, six
terraces, five fireplaces with antique mantels and views of both
Park Avenue and Central Park. [Post]

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