Former US ambassador slashes price of
Fifth Avenue pad

Bruce Gelb originally listed co-op for $65M

TRD New York /
Nov.November 13, 2017 01:00 PM

1060 Fifth Avenue #10B and Bruce Gelb

Former U.S. Ambassador Bruce Gelb is at the negotiating table — With Another Price Chop For His Fifth Avenue apartment, once asking $65 million.

After slashing the price of the 15-room co-op to $38 million in June, Gelb has shaved another $3.5 million from his asking price. He’s also swapped brokers, replacing Dolly Lenz with agents from Stribling & Associates and Compass, Curbed reported.

A former Commissioner for the United Nations, Gelb was ambassador to Belgium and president of hair giant Clairol. A buddy of George H.W. Bush from their school days, Gelb bought the 10th-floor apartment at 1060 Fifth Avenue decades ago. After listing it for $65 million, he also teamed up with a neighbor to offer the adjacent 10th-floor apartments for a combined $73.8 million.

When they didn’t get any takers, Gelb slashed the asking price of his apartment, which lacks modern design flourishes. The 10th-floor apartment has five bedrooms and original details like a J.E.R. Carpenter carved mantel, according to the listing. [Curbed]E.B. Solomont


Related Articles

arrow_forward_ios
(Getty)

Manhattan rents fall below $3,000 for first time since 2011

Manhattan rents fall below $3,000 for first time since 2011
Data on third quarter CRE investments suggests a nationwide improvement, but Manhattan has been slow to recover (iStock)

NY falls behind Dallas, LA in CRE investment as deals surge nationwide

NY falls behind Dallas, LA in CRE investment as deals surge nationwide
Existing home sales rose again in September as listed inventory sunk to a new low. (iStock)

Existing homes sales remain high, but inventory is “historically low”

Existing homes sales remain high, but inventory is “historically low”
 Jennifer Lawrence and 17 Jane Street with Edward Minskoff (Getty; Sciame Construction)

Jennifer Lawrence buys at Ed Minskoff’s West Village condo

Jennifer Lawrence buys at Ed Minskoff’s West Village condo
Gov. Andrew Cuomo (Getty; iStock)

New York City lifts lockdown for some Covid hot spots

New York City lifts lockdown for some Covid hot spots
217 West 57th Street with Extell Developement's Gary Barnett and Corcoran's Pamela Liebman (Photos via Extell; Barnett via Anuja Shakya)

Extell brings on Corcoran Sunshine to help market Central Park Tower

Extell brings on Corcoran Sunshine to help market Central Park Tower
660 Madison Avenue (Photo via Jenel Real Estate)

Safra family finally begins 660 Madison’s office-to-resi conversion

Safra family finally begins 660 Madison’s office-to-resi conversion
The Northeast is driving gains in building permits and housing starts (iStock)

Northeast drives gains in building permits, housing starts

Northeast drives gains in building permits, housing starts
arrow_forward_ios

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

Loading...