Apollo’s Marc Rowan slices another $1M off price of Fifth Avenue co-op

Private equity mogul is now asking $18.5M

New York /
Oct.October 04, 2016 05:00 PM

It seems even billionaires like Apollo Global Management co-founder Marc Rowan are having to adjust their price expectations amid an oversupply in the luxury residential market.

 

The private equity mogul slashed the asking price of one of his co-op units at 927 Fifth Avenue by an additional $1 million, bringing it to $18.5 million, according to StreetEasy. It was first listed for sale last year for $22 million.

 

Rowan and his wife Carolyn bought the ground-floor unit for just $7.7 million in 2012, records show. It was the third apartment they’d purchased in the building. Their previous purchases included a fifth-floor spread they bought for $26 million in 2013.

The three-bedroom, 3.5-bathroom ground-floor unit was previously home to a plastic surgeon’s office, but has been completely redone as a high-end apartment designed by Tony Ingrao. It comes with a billiards table and a glass and matrix stone bar.

It’s listed by Juliette Janssens and Allison Koffman of Sotheby’s International Realty TRData LogoTINY, who were not immediately available for comment.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
48 East 81st Street
5 enviable abodes on the Upper East Side
5 enviable abodes on the Upper East Side
Battle royale over East Hampton Airport rages on
Battle royale over East Hampton Airport rages on
Battle royale over East Hampton Airport rages on
(iStock)
Rents in New York and South Florida metros surged more than 30%, led nationwide rise
Rents in New York and South Florida metros surged more than 30%, led nationwide rise
Chetrit’s Queens industrial loft signs warehouse startup for 90K sf
Chetrit’s Queens industrial loft signs warehouse startup for 90K sf
Chetrit’s Queens industrial loft signs warehouse startup for 90K sf
Decentraland
This $2.4M virtual land deal is largest ever for digital real estate
This $2.4M virtual land deal is largest ever for digital real estate
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...