Suburban CEO Sells Fifth Avenue Co-op

A full-floor co-op at one of Manhattan’s so-called Good Buildings has found a buyer.

David Fischer — the chairman and CEO of the Suburban Collection and the former Ambassador to Morocco — and his wife, Jennifer, snagged a signed contract for their three-bedroom apartment at 825 Fifth Avenue, according to Olshan Realty’s weekly report.

The home, which last asked $35 million, was the priciest of 19 properties in the borough asking $4 million or more to land an inked deal last week. The total was on par with the previous period, which logged 18 signed contracts.

The 15th-floor unit was initially divided into four apartments, which the couple purchased in separate transactions between 2018 and 2019 for a total of nearly $16 million. They later renovated them into a single co-op and put it on the market in December for $37 million.

The apartment also features four bathrooms, a solarium, two terraces and views of Central Park. Amenities in the building include doormen, elevator men and a private restaurant.

Douglas Elliman’s Genevieve Sonsino and Richard McTighe had the listing.

The second most expensive home to snag a signed contract was a penthouse at 111 West 56th Street, with an asking price just under $15 million. Unit PHC initially asked $12.5 million when the developer, GFI Capital Resources Group and Elliott Management, began marketing units in 2022.

The 2,800-square-foot penthouse is one of 99 condos above the Thompson Central Park Hotel known as the One11 Residences. It has four bedrooms, four bathrooms and two terraces.

A team from Douglas Elliman Development Marketing, led by Maria Mainieri and Taylor Middleton, heads sales at the project.

The condo portion of the building shares amenities with the hotel, including a concierge, fitness center, restaurant and lounge. Miami-based real estate investment firm, Gencom, bought the 587-room hotel for $308 million last year.

Of the 19 properties, 13 were co-ops and six were condos.

The homes’ combined asking price was $162 million, for an average price of $8.5 million and a median of $6.8 million. The typical home spent more than 420 days on the market and was discounted 7 percent from the original listing price.