The Manhattan housing market refuses to follow the rest of the country into the dumpster. After purchasing a duplex penthouse (without the necessary connecting staircase) last January, hedge funder Scott Bommer and his wife Donya have re-sold it for $48.9 million, $2.9 million more than they paid, setting a new record.
NY Observer: In what will surely go down as one of the most splendid flips in the history of ultra-posh New York City real estate, the young hedge fund executive Scott Bommer and his wife Donya, once an anchor for “Good Day Philadelphia,” have sold their duplex penthouse at 1060 Fifth Avenue for around $48.9 million, according to a source.
Not only does the sale come in the middle of a relatively sludgy, even gloomy real estate market, but there’s the downright flabbergasting fact that the Bommers bought the apartment only this January. They paid $46 million, setting a record for a Manhattan co-op sale.
That record was broken this summer, when the chairman of the Loews conglomerate, Jonathan Tisch, agreed to pay $48 million for a co-op at 2 East 67th Street (though the deal hasn’t closed yet). So not only will the Bommers be making a quick couple of million dollars, but they’ll be reclaiming their slot atop the New York City co-op hierarchy.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.