Nasser family’s Fifth Ave co-op sells for $35M, a third off asking price

Textile magnates had sought $52M for triplex apartment

New York /
Oct.October 06, 2021 03:06 PM
Nasser family’s Fifth Ave co-op sells for $35M, a third off asking price

990 Fifth Avenue (Google Maps)

Another day, another discount.

The Nasser family, which made its fortune in textile manufacturing, just sold its triplex at 990 Fifth Avenue for $35 million, a third off the asking price.

The co-op hit the market in 2019 asking $52 million. At the time, Harry Nasser was listing the property with his colleague and cousin Lois, the Wall Street Journal reported.

The Nasser family home isn’t the only high-end property getting its price hacked down. A condo at Central Park Tower that had been priced at $95 million recently sold for $50 million. And a $63 million unit there sold for $40 million.

The Nassers’ unit had been in the family for decades. Investor Rafael Nasser, a cousin of Harry’s, told the Journal that his parents bought the apartment in the early 1980s, while he was in high school.

The home has 6,450 square feet of interior space and 1,200 square feet outside, six bedrooms, five bathrooms and a library. It was designed by Rosario Candela in the early 20th century and was renovated a few years ago to add a contemporary touch.

Brown Harris Stevens’ John Burger and Nancy Candib represented the seller. The unnamed buyer was represented by attorney Jill Allegretti of Allegretti & Associates.

Burger declined to comment on the property or offer any additional details regarding the sale. Candib did not immediately respond to requests for comment.





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