The Real Deal New York

UES luxury pad sells for $18M over asking price

David and Jennifer Millstone pick up $53M Fifth Avenue co-op
June 30, 2016 08:34AM

Standard Industries co-CEO David Millstone and his wife Jennifer picked up an Upper East Side apartment for $53 million – $18 million over its asking price. The hefty markup is a rarity in 2016 – a year that has seen plenty of penthouse price cuts amid a softening luxury market.

The third-floor, 22-room co-op unit at 960 Fifth Avenue includes four bedrooms, five bathrooms, a library and eight maid’s rooms.

“They have four kids and needed the space,” a source told the New York Post. Jennifer Millstone is the daughter of shopping mall mogul Samuel Heyman.

The pad was once home to art collector Robert Ellsworth.

In April, Luxury Listings NYC published a detailed look at the tycoons who live at the white glove building. [NYP]Konrad Putzier