With reports widely circling that Manhattan luxury homeowners are slashing prices to sell, this piece of news might come as a surprise: an apartment at 960 Fifth Ave. was just sold for $18 million above its asking price.
David Millstone, co-CEO of Standard Industries, spent $53 million on the residence, which was once home to the late Robert Ellsworth, a preeminent collector of Asian art. The apartment was asking an already eye-popping—but much lower—$35 million, the New York Post reported.
According to the report, Mr. Millstone and his wife Jennifer, who is the daughter of late shopping mall mogul Samuel Heyman, wanted the 22-room apartment so badly that they got into a bidding war, pushing the sale price further north.
“They have four kids, and needed the space,” an insider told New York Post. Mr. Millstone did not return calls for comment.
The full-floor unit includes a dining room, a living room and a library, each with its own fireplace. There are four bedrooms, eight maids’ rooms and a “servants’ hall,” kitchen and pantry, five bathrooms and two powder rooms.
The 12-story 68-unit building, also known as 3 East 77th St. signifies wealth and social status. Built in 1927, the building has seen a slew of prominent residents, including British socialite Claus von Bulow, Canadian philanthropist Edgar Bronfman Sr., Texan oil tycoon Matthew Wolf and Egyptian billionaire Nassef Sawiris.
Write to Fang Block at fang.block@dowjones.com