One Fifth Avenue co-op sells in less than a day

Full-floor unit asked $6M, down from initial ask of $8.5M in 2019

New York /
Apr.April 01, 2022 02:00 PM

Keith Richards, Jessica Lange and One Fifth Avenue (StreetEasy, Getty Images)

UPDATED, April 4, 2022, 10:45 a.m.: A full-floor co-op in a celebrity mainstay building sold less than a day after listing.

Unit 25AB at 1 Fifth Avenue asked $5.99 million. Listing agent William Martin of Douglas Elliman said Ann Weintraub, the buyers’ broker, reached out to Martin immediately after the listing was posted.

“That’s certainly a record for me,” Martin said of the speedy sale. “Even when we’re in a wonderful market as we are today, that’s not the norm.”

One Fifth Avenue (H5 Property)

The unit had been listed for $8.5 million in 2019, but had been off the market for the past two years.

Martin declined to provide the sale price and identity of the buyer, but said the Greenwich Village building’s newest resident is not a celebrity.

One Fifth Avenue (H5 Property)

The new owner of the 25th-floor unit might not have a famous name, but will be in high-profile company, including Emmy Award-winning actress Jessica Lange. Former residents include Keith Richards, actress and Gwyneth Paltrow’s mom Blythe Danner, Tim Burton and Helena Bonham Carter.

The unit has 360-degree views of the city, as well as an open floor plan and stainless steel kitchen. It has two separate bedroom wings, each with an ensuite bathroom, and room for a third bedroom or office.

Keith Richards took a seven-figure haircut when he sold his eight-room duplex penthouse in 2018 for $9 million, after listing it for over $12 million. Richards and his wife, Patti Hensen, had bought the apartment for $10 million.

Martin said the sellers, who are based in Europe, sold the apartment in the wake of the pandemic. The sellers used the apartment as a pied-à-terre, a property type that has surged in popularity because of remote work, rising rents and a renewed joie de vivre among buyers who want to be in New York City, at least part-time.

The Art Deco building was built in 1927 as a hotel for the wealthy. Today, it offers views of Washington Square Park and the Empire State Building.

This piece has been updated to reflect the buyers’ broker, not the buyers, reached out to listing agent William Martin.





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