Mr. Bronfman’s penthouse is reported to have been finally sold for $5 million dollars more than the original $65 million asking price.
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The family of the late Edgar Bronfman Senior is reportedly in the final stages of completing the sale of the penthouse where the late Canadian born businessman and philanthropist had made his home during the last few years of his life.
According to reports from within the real estate industry, the five-bedroom, eight-bathroom unit situated at 960 Fifth Avenue on the Upper East Side of Manhattan has been sold to an unnamed buyer for $70 million, $5 million dollars more than when it originally on the market in February, just two months after Edgar Bronfman Senior’s passing at the age of 84.
Even if sold at the original $65 million asking price, the sale of the penthouse would comfortably break the record price for an apartment in a New York City co-operative building, easily topping the $54 million that record producer David Geffen paid for an apartment on Fifth Avenue two years ago.
With the penthouse property as good as sold, the Bronfman family have handed the responsibility of selling major items from Edgar Senior’s estate to International art auctioneers Christie, in particular his multi faceted art collection. Edgar Bronfman painstakingly built up his collection over a number of decades, spanning a number of categories, ranging a from impressionist art, modern art, american art, post-war art, contemporary art as well as decorative arts.
Comprising works by such artists as Picasso, Monet, Degas, and Avery, Christie’s estimate that the collection will fetch in the region of $35 million at auction.
The entire Edgar Bronfman Senior collection will be on view during Christies’ annual Prints & Multiples view to be held at Rockefeller Plaza between April 18th and 22nd with highlights of the collection coming up for auction at a modern art evening sale on May the 2nd.
Such is the complexity of the Edgar Bronfman Senior collection that it will be sold in a series of auctions to be held in New York, London and Hong Kong over the coming months, as well as on online-only auction of Picasso Ceramics, running for two weeks from May the 2nd.
Undoubted highlights of the Evening Sale will be works of art by Pablo Picasso in particular ‘Mangeuse de Pastèque et Homme Écrivant’, painted in 1965 an is estimated to fetch between seven to ten million dollars. Also up for sale will be a sculpture by Edgar Degas, “Le Tub” created in the late nineteenth century. Widely regarded as one of the most innovative and important sculptures of the modern era “Le Tub” is expected to change hands at between four to six million dollars
Also outstanding on the works of art up for auction will be Egon Schiele’s “Akt mit roten Strumpfbänder “which should fetch between three to five million dollars, according to Christie’s.
The late billionaire philanthropist Edgar M. Bronfman Sr.’s art trove, with paintings by Pablo Picasso, Claude Monet and Henri Matisse, will be auctioned at an estimate of more than $34 million
Edgar Miles Bronfman was born in 1929 in Montreal, Canada, the third child of the late Samuel and Saidye Bronfman, and brother to three siblings, Minda, Phyllis and Charles. Bronfman graduated from McGill University in 1951 with a bachelor of arts degree. After moving to New York City in 1955, Edgar Bronfman took up American citizenship in 1959.
Among the numerous bestowed on Edward Bronfman Senior during his long and distinguished life are the Presidential Medal of Freedom bestowed on him by President Clinton; the Chevalier de La Legion d’Honneur from the government of France; the Justice Louis D. Brandeis Award from the Zionist Organization of America; as well as honorary doctoral degrees from Williams College, McGill University, Tel Aviv University, New York University and the Hebrew University of Jerusalem among a number of others.