Tamara Mellon’s purchase of Edgar Bronfman’s duplex Manhattan penthouse marks the fourth real-estate sale the Warner Music Group CEO has made this year.
Since the music business has become increasingly less profitable, we’re glad Edgar has found a way to make a little extra money.
How much has he made, before broker fees and taxes and whatnot?
Granted, most of it came from the $45 million+ he made from selling his 64th Street townhouse, which he bought for a pittance a decade earlier and extensively renovated before selling, but it’s a nice chunk of change nonetheless.
Here are Edgar’s four latest property flips, ranked by gross profits:
November 2007: Townhouse at 15 East 64th Street, Manhattan
Paid: $4.375 million Sold for: $50 million Gross profit: $45.625 million
August 2008: Hamptons estate, Amagansett
Paid: $12.5 million Sold for: $14.7 million Gross profit: $2.2 million
June 2008: Co-op at 1040 Fifth Avenue, Manhattan
Paid: $19.5 million Sold for: $20-21 million Gross profit: $500,000-$1.5 million
September 2008: Duplex penthouse at 3 East 95th Street, Manhattan
Paid: $18.75 million Sold for: $20 million Gross profit: $1.25 million
Total gross profits: Roughly $50 million
Business Insider Emails & Alerts
Site highlights each day to your inbox.