Famed art dealer’s $20M co-op tops Manhattan luxury contracts

Robert Mnuchin’s Fifth Ave apartment and a nearby Lenox Hill townhouse asking $19M each found buyers last week

Robert Mnuchin in front of 944 Fifth Avenue (Getty Images, Google Maps, iStock)
Robert Mnuchin in front of 944 Fifth Avenue (Getty Images, Google Maps, iStock)

A full-floor apartment at 944 Fifth Avenue topped Manhattan’s luxury contracts last week — the first time in six months that the borough’s priciest home sale involved a co-op, rather than a condo or townhouse.

The Lenox Hill home was last asking $20 million, according to Olshan Realty’s weekly report, reduced from $25 million when it was previously listed in October. The seller, art dealer Robert Mnuchin — the father of former Treasury Secretary Steven Mnuchin — paid $20 million for the co-op in January 2008.

The four-bedroom, three-bathroom unit includes a 42-foot living room overlooking Central Park, an exercise studio and a kitchen with a walk-in pantry.

The second-priciest home to enter into contract last week was a townhouse at 123 East 61st Street, also in Lenox Hill, asking $18.8 million — unchanged from when it first hit the market in February 2021. The seller paid $12 million for the home in 2015 before gut renovating it in a contemporary style, according to Olshan’s report.

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The townhouse has a stucco facade and spans 9,200 square feet across six floors, including seven bedrooms, a garden and a rooftop terrace.

In total, 39 contracts were signed between April 4 and April 10 for homes asking $4 million and above. The homes’ asking prices totaled $297 million, with a median of $6 million. There was an average 5 percent discount from the original to last asking price, and the units spent an average of nearly two years (707 days) on the market.

Twenty-eight of the 39 units were condos, seven were co-ops and four were townhouses. Of the 28 condos, 19 were sponsor units sold by developers.

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