Joe Moinian sells his Park Ave. co-op for $8.8M

The full-floor pad was first listed in 2009 for $9M

TRD New York /
Oct.October 21, 2016 05:24 PM

If at first you don’t succeed, try, try again. After years unsuccessfully trying to sell his 4,000-square-foot co-op unit in 1045 Park Avenue, developer Joseph Moinian has finally found a buyer. The real estate mogul sold the five-bedroom penthouse on the 15th floor to Robin Rankin, head of mergers and acquisitions at Credit Suisse. She paid $8.8 million for the pad, according to Department of Finance records.

The full-floor apartment comes with an expansive living room with Central Park views, two wood-burning fireplaces, and 10-foot ceilings.

The apartment was first listed for $9 million in 2009 and the price has zigzagged a few times since. The asking price was chopped to $7.9 million in 2010, and then upped to $10 million in 2011 after some time off the market. At the time, Moinian told The Real Deal that the price hike was because the apartment has been renovated and the market had changed.  It was also available to rent for $32,000 a month. It came back on the market for $10 million in September 2015.

Luis Ortiz and Ronita Kalra at Douglas Elliman brokered the deal.


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