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

Former ambassador knocks $27M off asking price of coop

TRD New York /
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

Clockwise from top left: 522 West 29th Street, 40 East 75th Street (center), 820 Fifth Avenue, 54 Thompson Street and 220 Central Park South 

These were the five priciest residential listings in NYC last week

Faith Hope Consolo (Credit: Getty Images)

Faith Hope Consolo’s secret family probes her will

William Zeckendorf and his brokerages are making moves. (Credit: iStock, Getty Images)

William Zeckendorf wants to build an army of NYC homeowners

Keeping lawns freshly cut and outdoor spaces in tip-top shape could result in greater rewards for sellers. (Credit: iStock, IMDB)

Curb your enthusiasm: Homes with spruced-up outsides sell at premium

Elsa Segura (left) was arrested in connection to realtor Monique Baugh's (right) murder (Credit: iStock)

Second suspect charged in real estate agent’s abduction, murder

Clockwise from top left: John Gomes, Ronita Kalra, Eric Beniam and McKenzie Ryan (Credit: Getty Images, iStock, Wikipedia)

“We’re putting ourselves in situations where anything is possible”: Real estate agent’s killing rattles industry

157 West 57th Street (Credit: iStock)

One57 condo with reduced ask tops a slow week of luxury contracts

Clockwise from top left: 730 Fifth Avenue, Unit #PH21; 730 Fifth Avenue, Unit #18A; The Pierre, Unit #3101; and The Park Imperial, Unit #64

Priciest homes listed last week include $60M pad at Crown Building