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The New York Times

Nine Rooms in the San Remo for $20.75 Million

By: Vivian Marino
Published: 5/10/2015Source: The New York Times

A nine-room apartment on the 16th floor of the venerable San Remo that was owned for more than three decades by Robert W. Wilson, a hedge fund pioneer and philanthropist, sold for $20,750,000 and was the most expensive sale of the week, according to city records.

The corner residence, No. 16C, in the south tower of the landmark 1930 building at 145 Central Park West at 74th Street, was sold by the estate of Mr. Wilson, who in late December 2013 jumped to his death from a rear window in the apartment that he had occupied since 1978. He was 87 years old and had suffered a stroke six months earlier that had affected his mobility.

The buyer of the co-op, which has a monthly maintenance of $8,770, was identified as the Savrola Residence Trust and was represented by Sherry Matays of the Corcoran Group. The unit sold for $4.25 million below the $25 million initial asking price when it entered the market in April 2014; its most recent list price was $21,495,000.

“The proceeds of the sale are going to a number of charities,” said the listing broker, Laurel Rosenbluth of Kleier Residential. She said the buyer was a local family who planned to restore the unit to its original glory.

The apartment, with three bedrooms and three and a half baths in addition to a library, has around 4,600 square feet of space, along with a wraparound terrace and 70 feet of direct Central Park frontage. It was described in the listing as “a one-of-a-kind gem” with most of the original Emery Roth-designed architectural details preserved. Among these flourishes: arched doorways, plaster walls with bas-relief insets and elaborate moldings. The unit also has a private elevator landing and reception gallery.

Mr. Wilson was the founding partner in 1969 of a hedge fund firm, Wilson & Associates. After retiring in 1986, he spent the rest of his life donating most of his accumulated wealth to charities, including conservation and cultural organizations.

Last week’s runner-up, at $12,500,000, according to city records, was the sale of an 1893 Renaissance Revival townhouse at 326 West 89th Street that had been gut-renovated throughout and modernized. The monthly taxes for the six-bedroom five-bath house, which stands five stories high and includes a roof terrace and a finished basement for a total of nearly 7,000 square feet of livable interior space, are $5,189.

Roberto Cabrera and Andres Perea-Garzon of Town Residential represented the seller, identified in documents as Matthew Klein. Rachel Altschuler of Douglas Elliman Real Estate brought the buyer, who was shielded by the limited liability company Doggie Pie. “They are local and very familiar with the neighborhood,” Mr. Perea-Garzon said of the purchaser.

Mr. Perea-Garzon said the home started out as a single residence and was broken into single room occupancy units in the 1980s. The seller never lived in the house, but “put about $5 million into the renovations” over two and a half years, Mr. Cabrera said.

Copyright © 2015 The New York Times Company. Reprinted with Permission. Chester Higgins Jr./The New York Times. 


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