If it’s possible to shield the profits on an eight-figure home sale from taxes, the seller of this Carnegie Hill co-op will likely find a way.
Richard Eisner, co-founder of Eisner LLP — a predecessor of the audit, accounting and tax advisory firm EisnerAmper — and his wife, Carole, sold their co-op at 1107 Fifth Avenue for $35 million, records show.
The buyer was listed only as FAW Trust. Eisner did not respond to requests for comment.
The 14-story apartment building on the corner of East 92nd Street was built in 1925 by the George Fuller Company and designed by W.K. Rouse and L.A. Gladstone. A mansion owned by cereal heiress Marjorie Merriweather Post Hutton previously stood on the site. Fuller convinced her to sell the property after agreeing to recreate much of her home on the new building’s top three floors. The result was a 54-room triplex penthouse.
Post moved from the penthouse when her 15-year lease expired in 1941 (her most notable residence, Mar-a-Lago in Palm Beach, Florida, having been completed in 1927) and the triplex remained empty for about a decade before it was split into six units when the building was converted to a co-op in the early 1950s.
Mark Kingdon, founder of hedge fund Kingdon Capital, purchased a 10-bedroom penthouse in the building for $30.9 million in 2014. A deal to sell the penthouse to Peruvian billionaire Carlos Rodriguez-Pastor for $27.5 million fell through a year earlier, when Rodriguez-Pastor reportedly balked at the board’s plan to allow other residents access to the roof through the penthouse’s terrace.
After a record-breaking 2021, demand for luxury homes in Manhattan has remained strong in the new year. In the first week of January, 22 luxury contracts were signed, according to Olshan Realty’s weekly report — the busiest week to start a year since Olshan began tracking the borough’s luxury market in 2006.
Read more
New York
Hedge funder pays $31M for UES penthouse
Residential
New York
UES townhouse rumored to have been owned by Grace Kelly sells for $25M