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Fund manager pays $25M for Fuld co-op
Former Lehman Brothers CEO Dick Fuld sold his 16-room cooperative apartment at 640 Park Avenue at 66th Street for $25.87 million, making a profit of almost $5 million since he bought it a little more than two years ago. Fuld and his wife Kathleen had asked for $32 million when it was first being quietly marketed, according to reports in May. They bought the unit in January 2007 for $21 million, property records show. The buyer was identified as Glenn Fuhrman, who is a co-managing partner and co-founder of Manhattan-based investment fund MSD Capital. The sale closed August 14, according to property records posted today. Kathryn Steinberg, senior vice president and managing director at Brown Harris Stevens, represented the Fulds.