James L. Nederlander is charting “A Strange Loop” through the San Remo.
The leader of the Nederlander Organization purchased a unit at the Upper West Side building for $4.1 million, Crain’s reported. The transaction occurred off-market, so details of the unit No. 11EE are limited. The seller was a Westchester-based family trust.
This is not the Broadway owner and producer’s first overture at the famed 145-146 Central Park West. Nederlander already owns a three-bedroom apartment at the building, No. 12E, which he bought more than a decade ago for $13.5 million. That apartment includes a library, formal dining room and three staff rooms.
Nederlander also previously owned No. 7A.
His family-owned firm is one of Broadway’s biggest landlords, along with the Shubert Organization and Jujamcyn Theaters. The company owns nine Broadway theaters, including the Brooks-Atkinson, the Lunt-Fontanne, along with theaters in Chicago, Los Angeles and London.
It’s been a challenging few years for the firm. The pandemic decimated the theater industry, shutting down productions and limiting capacity when they finally returned.
Read more
Commercial
New York
Pulling rabbits out of a hat: How NYC theaters survived Covid — or didn’t
Commercial
New York
Columbia University president Lee Bollinger lands Central Park West apartment for $11.7M
Commercial
New York
Naftali moves to demolish UWS building with holdout tenant
Family patriarch James M. Nederlander died in 2016. The elder Nederlander quit school and started working at the company founded by his own father in 1939, before eventually taking over the company in 1965.
Last year, relatives of the late Broadway legend put his estate’s full-floor condo at 838 Fifth Avenue on the auction block. It eventually sold for $11 million to California real estate investors, according to Mansion Global.
The luxury 27-story, two-tower San Remo has been home to some of the biggest celebrities in the world, including Steve Martin, Bono and Bruce Willis.
Last year, disgraced producer Scott Rudin sold his unit at the building to Sparknotes founder Dan Weiss and his wife, literary agent Amy Berkower, for $13.1 million. Rudin has been a resident of the building since at least the 1990s.
— Holden Walter-Warner