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New York

J. Christopher Flowers nears deal for $50M UES co-op

Financier is purchasing a unit in the building at Fifth Avenue and East 66th Street

The Fifth Avenue and East 66th Street apartment and J. Christopher Flowers (Credit: Getty Images)
The Fifth Avenue and East 66th Street apartment and J. Christopher Flowers (Credit: Getty Images)

Financier J. Christopher Flowers is in contract to buy an apartment for about $50 million on Manhattan’s Upper East Side.

The apartment spans about 7,500 square feet and occupies an entire floor of the co-op building, according to the Wall Street Journal. If it closes at the $50 million price tag, it will number among the most expensive recent transactions in New York City’s luxury market.

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The 18-unit luxury co-op building at Fifth Avenue and East 66th Street is known for its high ceilings and views of Central Park. The building has counted Paul Allen, the late co-founder of Microsoft, and Alan C. Greenberg, the late Bear Stearns chairman, among its residents.

Iraqi-born investor Ezra Zilkha most recently owned the unit that Flowers is in contract to purchase. Zilkha, who died last year, owned the home with his wife for more than three decades. His unit was never listed on the market.

Flowers founded the private equity firm J.C. Flowers & Co. and is a former Goldman Sachs partner. He previously purchased a floor in the co-op building at 640 Park Avenue in 2013 for $20 million. [WSJ] — Eddie Small

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