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

Former ambassador knocks $27M off asking price of coop

New York /
Jun.June 30, 2017 09:20 AM

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

arrow_forward_ios
Joan Collins and 110 East 57th Street #8EFG (Getty, BHS)

Soap star Joan Collins lists longtime Midtown pied-à-terre

Soap star Joan Collins lists longtime Midtown pied-à-terre
Tommy Hilfiger and his recently sold estate in Greenwich, CT. (Getty, Janet Milligan)

Tommy Hilfiger’s Greenwich estate sells for $45M

Tommy Hilfiger’s Greenwich estate sells for $45M
Jenna Ryan was part of a group who flew on a private plane from Denton, TX, to Washington, D.C., with the intention of joining the protestors (Twitter.com/DotJenna)

Texas Realtor faces criminal charges for role in Capitol attack

Texas Realtor faces criminal charges for role in Capitol attack
Porch CEO Matt Ehrlichman (iStock)

Porch snaps up four startups for over $122M

Porch snaps up four startups for over $122M
Nir Meir Asks Court to Stop Eviction (Google Maps)

Nir Meir seeks to throw out Hamptons ejection suit

Nir Meir seeks to throw out Hamptons ejection suit
Robert Frank with 1021 Park Avenue and Ben Lambert with 28 Laight Street (Getty, Google Maps)

Who’s buying and selling Manhattan homes? Last month’s notable deals

Who’s buying and selling Manhattan homes? Last month’s notable deals
New Yorkers signed leases in record numbers last month. (Getty)

Manhattan, Brooklyn rental leasing hit 12-year high in December

Manhattan, Brooklyn rental leasing hit 12-year high in December
Damien Dwin of Lafayette Square Holding (Photos via Lafayette; iStock)

Sustainable housing is focus of Damien Dwin’s social justice effort

Sustainable housing is focus of Damien Dwin’s social justice effort
arrow_forward_ios

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

Loading...