$7 Million Sale of Sherry Netherland Coop Apartment

A cooperative apartment in the historic Sherry Netherland hotel at Fifth Avenue and 59th Street was just sold for $7 million.

According to New York City public records, the sale included not just one, but actually two apartments: 605 and 609.

The buyer is Jeanne Sorensen-Siegel, formerly known as Jeanne Sorensen.

Co-op shareholders pay a premium for monthly maintenance and extraordinary services that are included with the price of an apartment at this 5-star luxury hotel.

Buying a cooperative at the Sherry Netherland also involves paying steep, disproportionate monthly maintenance (’mm’) compared to comparably sized New York City apartments. Would you want to pay over $4,000/mm for an 870 sq.ft. apartment, or more than $12,000 /mm for a 2,000 sq.ft. co-op? You could at the Sherry

Just look at this llist of other apartments currently for sale in the building, their price, monthly maintenance (mm), and square footage.

- Apt. 909 | $2,500,000 list price | $4,288 mm | 880 s.f.

- Apt. 1205 | $5,500,000 list price | $9,495 mm | 1,721 s.f.

- Apt. 1601 | $7,000,000 list price | $12,252 mm | >2,000 s.f.

- Apt. 1701 | $3,850,000 list price | $7,964 mm | 1,416 s.f.

- Apt. 1714 | $1,900,000 list price | $5,054 mm | 870 s.f.

Some of the services include with each apartment are:

• Daily housekeeping (new sheets and towels!) and turndown service
• A fitness center
• Full, 24-hour concierge staff
• In-room massage therapy
• Valet parking and limousine service
• Marble bathrooms
• High ceilings and ornate décor
• In-room VCR and DVD players

Another perk that owners pay for at this tony address is the privilege of being allowed to have pets.

Photo credit: Flickr