Bruce Gelb gets diplomatic about selling UES co-op for $38M

Former ambassador knocks $27M off asking price of coop

Jun.June 30, 2017 09:20 AM

Bruce Gelb and 1060 Fifth Avenue #10B

They say diplomacy is the art of letting somebody else have your way. Perhaps that’s the strategy businessman and former U.S. ambassador Bruce Gelb has employed in Selling His Fifth Avenue pad.

Gelb, a buddy of George H.W. Bush from their prep school days, slashed the price of his 15-room apartment at 1060 Fifth Avenue to $38 million from $65 million, according to StreetEasy.

The apartment hit the market last April, and a few months later, Gelb teamed up with neighbor Joseph Siegelbaum, a partner at Goodwin Proctor, to offer the adjacent 10th-floor units for a combined $73.8 million.

A former Commissioner for the United Nations, Gelb was ambassador to Belgium under Bush. He was also a vice chairman of the board of Bristol-Myers Squibb and president of hair giant Clairol. He and his late wife, Lueza Gelb, owned the apartment for several decades.

The unit has six bedrooms and panoramic views of the Jacqueline Kennedy Onassis Reservoir in Central Park. The monthly maintenance is $11,900. Dolly Lenz has the listing.

The price cut means the unit is no longer in the running to break the building’s sales record. That title still belongs to SAB Capital’s Scott Bommer, who sold his duplex for $48.9 million in July 2008 after purchasing it for $46 million seven months earlier.

Related Articles

Wall Street bonus season is the stuff home sellers’ dreams, as they picture eager buyers armed with hefty bonus checks and willing to pay top price. But in a buyer’s market that vision may be more like a mirage (Credit: iStock)

Here’s what Wall Street bonus season means for real estate this year

Adam Neumann and 78 Irving Place (Credit: Getty Images and StreetEasy)

Adam Neumann is asking $37M for Gramercy Park triplex

(Credit: iStock)

Residential rents continue upward march in Manhattan, Brooklyn and Queens

Redfin's Glenn Kelman (Credit: iStock)

“It’s on like Donkey Kong”: Redfin scrambling to keep up with iBuyer demand

Don Lemon and Tim Malone with their apartment at 2280 Frederick Douglass Boulevard 

CNN’s Don Lemon lists Harlem condo with fiancé broker Tim Malone

From left: 515 Park Avennue, Soori High Line, One Beacon Court, 53 East 67th Street and 15 Hudson Yards (Photos via Douglas Elliman, Compass, StreetEasy, Hudson Yards, Apartments)

Priciest homes to hit market include an UES building prime for mansion conversion

166 E. 81st St. (Credit: Google Maps, iStock)

UES townhouse once described as “infested with vermin” goes into contract

Marie-Chantal Miller, the Crown Princess of Greece, and her husband Pavlos, the Crown Prince with 385 Great Plains Rd, Southampton, NY  (Credit: Getty Images)

Royal couple buys sprawling Southampton mansion