1030 Fifth Avenue, #3W
A two-year apartment flip isn’t extraordinary in New York City, but a 145 percent mark-up in that time frame certainly is. Nevertheless, according to Curbed, that’s exactly what Richard and Hannah Buchan, owners of apartment #3W at 1030 Fifth Avenue near 84th Street, are trying to accomplish.
The principal of hedge fund Hunter Global Investors and his wife purchased the apartment for $8.9 million last January, and put it on the market this week for $22 million with listing agents Sharon Baum and David Enloe of the Corcoran Group.
Of course, the Buchans completely gut-renovated and converted it into nine rooms from 12. The apartment has four bedrooms, four and a half bathrooms, two fireplaces and unobstructed views of Central Park and the Metropolitan Museum of Art. [Curbed]
January 19, 2012 at 4:14 pm, fairway said:
That apartment is not enormous by $22 million standards; the room sizes are not enormous, and while it must have a pretty view of the museum (you can probably see the Egyptian temple), it’s on the third floor and I doubt you have a $20 million view of the park from there. Good building but a bit of trafficky corner. I don’t think it’s worth very much more than they paid.