Lily Safra Sells 820 Fifth Ave. Co-op for $40M to Kenneth Griffith

Lily Safra, philanthropist and widow of the late banker and philanthropist Edmond Safra, sold her co-op apartment at 820 Fifth Avenue for $40 million in an all cash deal to Kenneth Griffth, founder and CEO of the Citadel Investment Group hedge fund.

Like nearly every other co-op in the building, the full floor apartment has approximately 6,500 square feet. With 18 rooms, 6 bedrooms, and 5½ baths, and servants’ rooms, it’s easy to get lost on the way to the kitchen for a midnight snack. The enormous living room, master bedroom, and diving room showcase spectacular views of Central Park.

It appears that the New York Post and The Real Deal may not have double-checked their sources when they recently reported on October 22, 2009 that Griffith bought Ara and Rachel Hovnanian’s 4th floor co-op in the building.

The notarized N.Y.C. smoker detector affidavit and NYC Dept. of Finance transfer taxes, sworn to on December 16, 2009, confirm that it was Safra who sold her apartment, not the Hovnanians. It was widely reported this spring that the co-op board at 820 Fifth turned down a $31 million offer by Related Companies president Jeff Blau and wife Lisa Blau

This pet-friendly co-op does not allow buyers to finance their apartment purchases.

Griffith’s neighbors at 820 Fifth Avenue include:

• Jayne Wrightsman, widow of the late oil baron Charles Wrightsman. For a fascinating description of the Wrightsman apartment in the 1960s, read this federal appeals court decision denying their attempts to deduct thousands in expenses for their art collection.
• H. Fred Krimendahl II, a Godman Sachs member for 34 years and founder of the Petrus Partners, Ltd. real estate investment firm, and wife Emilia Saint-Amand
• Former Yahoo! and Warner Brothers Chairman Terry Semel and Jane Bovingdon Semel
• Michael David-Weill, a descendant of one of the founders of Lazard Frères & Co.
• William Acquavella, President of Acquavella Galleries, and Donna Acquavella.
• Ara Hovnanian, President and CEO of the K. Hovnanian homes empire, and Rachel Hovnanian