Ethanol tycoon pays $22M for UES co-op
An ethanol fuel executive paid $22 million for an Upper East Side cooperative apartment formerly owned by the widow of the television producer, according to city property records posted this week.
Thomas J. Edelman chairman of BioFuel Energy Corp., based in Denver, and his wife Ingrid closed on the sale of the four-bedroom apartment at 775 Park Avenue on May 28.
The 12-room duplex was purchased from the estate of Frances Todman, who died in January. Her husband William Todman, who died in 1979, partnered with Mark Goodson to produce long-running hits including To Tell the Truth, Concentration, What’s My Line? and the Price is Right.
The 13-story building at the corner of Park Avenue and 72nd Street was designed by Rosario Candela and built in 1927.
The apartment, which includes a separate staff room on the building’s second floor, was originally offered at $24 million, according to the Brown Harris Stevens listing.
Edelman is also a director for Houston-based energy producer Noble Energy Inc. Over the past two years, Edelman has also sold hundreds of thousands of shares of stock in Noble Energy, reaping ten of millions of dollars, according to U.S. Securities and Exchange filings.
The Observer reported in March that the apartment was in contract just five weeks after Frances Todman’s death.
The listing broker, John Burger of Brown Harris Stevens, would not comment, citing company policy.