The Real Deal New York

Bon Jovi’s old condo sells at a $7.5M loss

LLC headed by Austrian-American businessman bought it in 2015 for $34M
By Meenal Vamburkar | July 19, 2018 09:05AM

583 Broadway (Credit: Google Maps)

The owner of a duplex condo that once belonged to Jon Bon Jovi just took a steep loss on the unit.

Ivar Mitchell, a managing director at Andlinger and Company, sold the apartment at 583 Broadway for $26.5 million, according to New York City Department of Finance records. Austrian-American businessman Gerhard Andlinger bought the property through JDA 2015 Investments LLC in 2015 for $34 million. But Andlinger died in December — and Mitchell sold the unit through the same LLC at a big loss.

The anonymous buyer is listed in records as Pingou LLC. The property, also known as the New Museum Building, has an alternate address of 158 Mercer Street.

The duplex spans about 7,400 square feet and features three terraces, 11-foot ceilings, a private screening room, and two fireplaces.

The apartment was on the market in 2014 for $37.5 million — after Bon Jovi, whose actual name is John Bongiovi, previously listed it for $42 million. He purchased it in 2007 for $24 million.

Earlier this year, Bon Jovi sold his three-bedroom duplex at 150 Charles Street. It was listed for $15.95 million.