5,420,000. That’s roughly how many Venti lattes Howard Schultz, former Starbucks CEO, would be able to buy (excluding tax and tip) if he sells his recently listed apartment at 950 Fifth Avenue.
The apartment is currently listed for $22.5 million on StreetEasy, nearly $3 million less than Schultz paid for the ultra-exclusive Upper East Side co-op in 2008.
A spokesperson for Starbucks did not respond to a request for comment.
The 10-room duplex looks out onto Central Park from the corner of 76th Street and Fifth Avenue. The apartment features four bedrooms, three bathrooms, a chef’s kitchen and wood-burning fireplaces in the living room, dining room and primary bedroom suite, which is accessed via central staircase.
The apartment has flitted on and off the market in recent years at varying price points. Corcoran’s Leighton Candler had the listing from September 2021 to July 2022 when the unit was asking $19.5 million. Prior to that, Corcoran had the unit listed from 2019 to 2021 for $26.9 million.
Elliman’s Jonathan Stein currently has the listing. He did not respond to a request for comment.
This would be the first apartment sold in the building since a different duplex went for $8.3 million in 2017.
The clubby co-op has housed some of the city’s premier movers and shakers.
Schultz bought his apartment from Jonathan Tisch, CEO of Loews Hotels and co-owner of the New York Giants football team. Former president of the Whitney Museum of American Art had a unit, as did Dennis Kozlowski, former CEO of Tyco.
Schultz’s apartment shakeups in the city seem to work in tandem with his corporate ones.
Schultz, who oversaw Starbucks’ rise to prominence in the 1990s, stepped down as CEO in 2000, only to resume his position during the height of the financial crisis in 2008, the same year he closed on his co-op at 950 Fifth Avenue.
In April 2017 Schultz again stepped down as CEO, only months after his splashy $40 million penthouse purchase at Greenwich Lane, the Greenwich Village condo conversion led by the Rudin family and Global Holdings.
After a third run as CEO from April 2022 to March 2023, Schultz stepped down from the company’s board in Sept. 2023.
Schultz’s other major endeavor, as owner of the Seattle Supersonics from 2001 to 2006, ended in seller’s remorse after the new owner Clay Bennett moved the team to Oklahoma City just two years after purchasing the team. Schultz later said selling the team was one of the “biggest regrets” of his professional life.
Hopefully he won’t say the same about 950 Fifth.
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