Former Burger King CEO buys whopper of a penthouse

A former chief executive of Burger King who once cleaned toilets at the fast-food chain probably won’t be doing that at his new home — a prestigious penthouse steps from Central Park.

Daniel Schwartz, who ran the burger giant from 2010 to 2019, paid $17.2 million for a pad at 993 Fifth Avenue, according to public records. Schwartz’ wife, Rachel, was also listed on the deed. Reached for comment, a spokesperson for Schwartz called The Real Deal’s report of the sale “inaccurate,” but declined to elaborate.

Schwartz bought the apartment from real estate industry veteran David Feinberg, whose company Feinberg Properties bought, sold, rented and appraised real estate, according to Bloomberg.

The co-op duplex, which is more than 5,000 square feet, was listed at $20 million when it went into contract in December. It had been priced as high as $39.5 million, in 2021, according to StreetEasy.

The four-bedroom, 4.5-bathroom unit features a private elevator which leads to a grand marble foyer entrance, wrought-iron staircase and walk-in coat closet. The home has a 53-foot-wide terrace overlooking Central Park, and 12 rooms, including a 39-foot-deep salon and library, both with fireplaces.

Serhant’s Ryan Serhant had the listing.

The 17-story, 19-unit limestone building has housed many of Manhattan’s elite and their children. The daughter of Goldman Sachs’ former head of merchant banking bought an apartment for roughly $25 million in 2020, and the son of Chanel chairman Alain Wertheimer snagged one for $19 million in 2019.

Feinberg himself seems to have followed in the footsteps of his father Peter, who founded a real-estate investment and development company in 1933, in the midst of the Great Depression.

The Metropolitan Museum of Art, which is across the street from the Emory Roth-designed building, also had an apartment in the co-op for its executives.

The penthouse purchase is apt for Schwartz, who shot to the top of the business world as an industry wunderkind. Schwartz joined investment firm 3G Capital in 2005 and made partner in 2008. The firm acquired Burger King for $4 billion in 2010 and appointed Schwartz as CFO; three years later, he was named CEO at the age of 32.

Under Schwartz’ reign, Burger King became Restaurant Brands, which doubled its valuation from 2016 to 2019.  Schwartz stepped back from the chief executive role in 2019. He remains on the board at Restaurant Brands and is a co-managing partner at 3G, according to LinkedIn.

While leading Restaurant Brands, Schwartz was based out of Miami and Toronto, but told Forbes he planned to spend more time in 3G’s New York office.

The penthouse deal adds to a slew of top-floor purchases. In the past two weeks, penthouses have accounted for a quarter of Manhattan luxury contracts, according to Olshan Realty’s weekly report.

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