The Real Deal New York

Billionaire purchases second Fifth Ave. condo

July 20, 2009 01:16PM

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.

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