Related Companies President Jeff Blau

From the July issue: Jeff Blau is president of Related Companies, one of the largest private real estate development firms in the country, with a portfolio valued at over $15 billion. Earlier this year, Related launched MiMA, a 1.2 million-square-foot, mixed-use development on 42nd Street in Manhattan. The company is also developing the 26-acre Hudson Yards, the largest development site remaining in Manhattan, with plans for up to four corporate headquarters, a retail complex, a hotel, a public school and nine residential buildings. Click here for the complete Q & A. [more]

Edgar Bronfman and 810 Fifth Avenue

Edgar Bronfman, Time Warner Music CEO and a noted real estate hopper, has picked up a new pad at 810 Fifth Avenue near the corner of 62nd Street, according to the New York Post. Although it’s not immediately clear what Bronfman paid for the two-bedroom, four-and-half-bathroom co-op, its asking price had been $23.5 million. This purchase is the latest in a long string of luxurious New York City real estate purchases for Bronfman, who is known as a connoisseur of high-end homes. Bronfman reportedly purchased a 15,000-square-foot townhouse on the Upper East Side in 1994, which he spent four years renovating and sold in 2007 for $50 million. After that, Bronfman picked up a $19.5 million co-op investment property at 1040 Fifth Avenue, which he never lived in, and also nabbed a unit in the Carhart Mansion Condominium at 3 East 95th Street near Fifth Avenue for roughly $19 million. His latest home includes a private vestibule, gallery and a library facing Central Park. [Post, 1st item]

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From left: billionaire Michael Jaharis, 1049 Fifth Avenue

Billionaire Michael Jaharis, who made his money in pharmaceuticals, has purchased a 3,333-square-foot condominium unit at 1049 Fifth Avenue at 86th Street. Jaharis, who ranked 376th this year on Forbes Magazine’s billionaire list, paid $6.7 million for the apartment, 24 percent less than the sale price last fall of a similar apartment on the floor below. Jaharis’ lawyer, Steven Aronoff, said the unit would probably be used as a guest apartment. Jaharis, whose net worth, according to the Forbes list, is $1.9 billion, already has an apartment at neighboring 1040 Fifth Avenue. [more]

The home to see the biggest price cut today is a three-bedroom,
four-bath co-op at 1040 Fifth Avenue, according to Streeteasy.com. The
price of the prewar home, apartment 56B, was cut by $1 million, and the apartment is
now on the market for $10.2 million. This is the apartment’s second
price cut, and it is now listed for 21 percent less than its asking
price of $12.9 million when it first went on the market in February.
The Corcoran Group’s Immy Mullin and Ruth Samuels have the listing.
Another home to see a significant price cut today, according to a press
release, is the penthouse at the Prime, at 333 West 14th Street. The
penthouse’s price was lowered by 21 percent, and is now on the market
for $5.9 million, down from $7.5 million. TRD
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