Entertainment industry fixture David Geffen has let go of another fixture of his real estate portfolio, this time a unit in upscale co-op building in Lenox Hill. Geffen had owned the property for about eight years, and purchased it for a little more than $14 million. The $24.5 million sale to Russian-American oil businessman Eugene Shvidler was conducted quietly off-market.
The unit is in 785 5th Avenue, The Parc V. The building dates to 1963, and was designed by renowned architect Emory Roth. Geffen had architect Charles Gwathmey re-design the unit shortly after purchasing it.
In its present iteration, the top-floor unit features highly articulated ceilings, matte-finished plank floors, a wealth of built-ins, and loft-like open concept living spaces with support columns. It extends to about 5,000 square feet, with two bedrooms and 2.5 baths.
The apartment features quite a bit of quiet dazzle, with a screening room with a projection booth, a wet bar, and a kitchen with butcher-block capped island and lots of commercial stainless with a backlit tray ceiling. The master suite features a walk-in closet and dressing room crowned with an opaque skylight, a nice touch that takes advantage of the top-floor location. Throughout, natural-finished tropical hardwood warms considerably, giving the apartment a down-to-earth appeal.
Views from the apartment are very pleasant, with Central Park visible from most rooms in the space.
Geffen’s real-estate dealings have come thick and fast in the past year or so. The sale of his Malibu beachfront compound for $85 million last spring set a city record.
David Geffen’s net worth is estimated at 8.5 billion; Eugene Shvidler’s is estimated to be right around $1.5 billion.
