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Jeff Blau, the CEO of Related Companies, has finally found a buyer for his Manhattan co-op located at 1040 Fifth Avenue, which was listed at $34.5 million. This was considerably lower than the $43 million that the real estate mogul had originally wanted for it when it was first put up for sale a few years ago.
Blau bought the apartment in 2008 for $21.4 million so he is still making more than a 50% profit on it.
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The apartment has ten rooms, including four bedrooms, 26 windows and custom detailing. It had an extensive three year renovation conducted by Shelton, Mindel and Associates.
A private elevator landing enters into a central gallery that opens to a generously sized living room featuring western and southern exposures, a wood-burning fireplace and original herringbone floors. Off the living room sits a versatile library/media room, a formal dining room, as well as a serene planting terrace. The chefs kitchen and adjoining dining area, home office/recreational room, staff quarters, mud room, and laundry room facilitate flow for contemporary daily living.
The gallery hallway leads to private quarters where the spaciously lavish master suite is framed by a private terrace facing south, and sitting room with eastern and northern exposures. Complete with a luxuriously appointed bathroom and four closets the suite delivers a resplendent sanctuary from the city. The additional bedrooms enjoy southern light with windowed en-suite bathrooms.
Located on Manhattan’s Upper East Side, 1040 Fifth Ave is a co-op building which was built in 1930 and has 27 apartments over 17 floors.
From Cityrealty.com: “Its 27 apartments offer sumptuous but comfortable layouts: each unit has a spacious entrance gallery leading to an even larger, 20- to 30-foot-long living room, along with a library and dining room, each with its own fireplace. The large kitchen, pantry, maid’s room and servant’s hall are discreetly pushed to the back. The apartments also have four or five bedrooms that are situated down a separate hall; all have their own baths and most feature walk-in closets.
“But the location of 1040 Fifth Avenue is one of its greatest selling points. Sitting on the northeast corner of 85th Street – one block north of the Metropolitan Museum – it is away from the tumult of tourists but still comfortingly close. “
