The Real Deal New York

Fifth Avenue co-op trades for $50M ask

December 28, 2012 08:30AM

After hitting the market in June, the Upper East Side co-op of David Hamamoto, chairman and CEO of NorthStar Realty Finance, has sold for $50 million, Bloomberg News reported. The closing for the property located at 944 Fifth Avenue was completed on Dec. 7, according to New York City property records made public yesterday. The buyer is listed as Frank McCourt, but the deed does not provide any additional information. (It is unclear whether the buyer is the Frank McCourt who is a real estate developer and the former owner of the Los Angeles Dodgers; that bankrupt team was recently sold for $2 billion.)

The apartment is a six-bedroom, six-bathroom,  5,000-square-foot unit that occupies the full 11th floor and includes a two-bedroom guest apartment on the  ground-floor. The main apartment features a private elevator landing and 70 feet overlooking Central Park. John Burger of Brown Harris Stevens had the listing.

At the time the apartment was listed, Burger said that he expected to sell the unit at the asking price, which he has.

“Having this type of view is like being on the waterfront in any other city,” Burger said. “And people are paying very significant sums right now to have a high-floor apartment along the perimeter of the park.” [Bloomberg]Christopher Cameron

  • WrteStufLA

    “The buyer is listed as Frank McCourt, whose background is currently unclear, although there is a prominent Boston real estate developer by the same name.”

    Is the above statement for real? Does it occur to anyone at Real Deal that it might be the FORMERLY Boston-based, turned disgraced former LA Dodgers owning Frank McCourt? The same Frank McCourt who recently came into a huge financial windfall, and so could easily afford an additional $50-mill residence?

    Helpful hint: If you’re going to turn all reporting over to the interns, you might consider leaving at least one adult around to supervise the quality of their output.

    • ZacharyKussin/TRD

      Thank you for the heads up. Please note the addition to the post.

  • Scrooged

    It’s actually a Bloomberg story, so I guess it was Bloomberg’s interns.

  • WrteStufLA

    @Scrooged … Nah, Bloomberg’s intern reporting was limited to “The buyer is listed as Frank McCourt, with no other identifying information provided.” It was Real Deal’s intern — maybe a high school senior? perhaps a freshman? — who hypothesized that it might be the Boston-based Frank McCourt.