Category — Fifth Avenue

Verizon pitchman Paul Marcarelli just sold his 2 bedroom, 1½ bathroom co-op apartment at 41 Fifth Avenue for $1.255 million.

Marcarelli paid $799,000 for a new condo in Williamsburg last fall in The Rialto at 150 N. 5th Street in Brooklyn.

You can take a tour of this renovated co-op in the heart of Greenwich Village with listing broker Laurie Silverman.

Given how long it took Marcarelli to sell his co-op, the apartment appears to have been crying out to him, “Can you sell me now?”

It was first listed for $1.425 million in July 2009, but it sold for 12% less.

Although the co-op is in the heart of Greenwich Village in a Rosario Candela building, it seems to have a few drawbacks. These include a huge $2,000/month maintenance, and a rather smallish size. Not exactly a family home, but a perfect starter co-op.

This co-op apartment at 1165 Fifth Avenue was a sweet, sweet deal.

This classic 6 maisonette co-op apartment in a pre-war building at 1165 Fifth Avenue and East 98th Street just sold for $1.2 million, an amazing 32% less than the co-op’s original $1,775,000 list price when it first went on the market in April 2007.

Who would have ever imagined buying a classic 6 on Fifth Avenue for $1.2 million?

The buyers, orthopedic surgeon MacEllis K. Glass, M.D. and Corcoran Senior Vice President Martha Friedricks-Glass, that’s who.

According to public records, seller Rogih Yazgi, a Harvard Law School graduate, appears to have relocated back to his Florida roots.

The apartment has some amenities that many co-op shareholders lack, like central air conditioning, a washer and dryer, a storage bin assigned to the apartment, and gym for residents in the co-op’s basement.

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This pet-friendly co-op is across the street from Mount Sinai Hospital and next to the St. Bernard’s School for boys, a private school that currently costs $33,270 a year to attend (don’t worry: for that price, lunch is included).

1165 Fifth Avenue Classic 6 Co-op Apartment

Monthly maintenance for the apartment was listed at $2,030. The co-op requires potential shareholders to have at least 50% of the purchase price, limiting finance to 50% of the sale price.

It appears that part of the reason why the apartment sold for so little is that it:

• Is a first floor apartment.
• To enter, owners and visitors must walk up steps inside the building’s lobby.
• The apartment appears to be located adjacent to the bustling St. Bernard’s School for boys, with considerable daytime activity.

After being on the market for 2½ years, the seller must have been motivated to drop the price as much as she did.

Record executive and producer David Geffen just paid $14.17 million for a high-floor co-op apartment at 785 Fifth Avenue, buying the entire floor from fellow entertainment executive Robert Daly and songwriter Carole Bayer Sager.

Like Geffen, Daly had a long career in the entertainment business, working at Warner Bros., Warner Music Group, the L.A. Dodgers, CBS, and Viacom.

The view overlooking Central Park, Fifth Avenue, and Plaza Hotel is magical:

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Neighbors in the building include:

• Persian rug baron Cyrus Yaraghi, a principal of Safavieh.
• Real estate executive Alan Ades and his wife Joan Ades who paid $5.2 million for their high-floor apartment in 2005.
• Denise Rich, songwriter, Democratic fundraiser, and ex-wife of pardoned commodities trader Marc Rich.
• Rich’s daughter Daniella and son-in-law RIchard Kilstock
• Pharmaceutical executive and consultant Martin Zieger and his wife Ellen