The Real Deal New York

TV mogul’s wife sells $7.7M Fifth Avenue pad

June 01, 2012 06:15PM
By Guelda Voien

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From left: the Sherry Netherland and Serena Boardman, an agent with Sotheby's

The wife of television mogul Herbert Siegel has sold her apartment in an exclusive Fifth Avenue co-op for $7.7 million, according to records filed with the city.

The Richard Meier-designed two-bedroom unit at the Sherry Netherland co-op, which sits across the street from the Plaza at 59th and Fifth, was purchased by philanthropist Joanne Sorensen Siegel for $7 million in 2008, according to city records. It first hit the market last August with Brown Harris Stevens, asking $11.5 million.

But the starchitect’s name was not enough to move the apartment, as more than one price chop brought the apartment down to a $9.25 million ask by December. The unit’s somewhat idiosyncratic floor-plan — which includes a 23-foot walk-in closet with Central Park views — might have spooked buyers, Curbed speculated at the time.

The co-op was then relisted in February at $7.9 million with Sotheby’s Serena Boardman and Eva Mohr, according to Streeteasy.com. The buyer was listed only as “AF Holdings” in city records. Boardman was not available for comment.

Herb Siegel was the head of Chris-Craft Industries, parent company of the United Paramount Network television station, which he sold to Newscorp for more than $5 billion in 2001, according to Forbes, which estimated his personal net-worth to be $1.3 billion. His wife Joanne is known for her involvement with Weill Cornell Medical College.

The Sherry Netherland was built in 1927 and converted to a co-op in 1954. Among the luxury amenities offered there is room service from famed restaurant Cipriani’s.

— Additional reporting by Leigh Kamping-Carder

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