The daughter of billionaire hedge funder Israel Englander has sold her Manhattan apartment at a loss — a trend that is happening more often across New York’s luxury market.
Dr. Laura Englander Levin, a radiologist whose father is the founder of hedge fund Millennium Management and is reportedly worth $5 billion, has sold her condo at 960 Park Avenue, which had a $13.5 million asking price, well below the $15.5 million she paid for it in July 2014.
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The tony co-op features a corner living room and four bedrooms overlooking Park Avenue. It also has a library, eat-in kitchen, maid’s room, and gym, according to Olshan Realty’s analysis of $4 million-plus home sales in Manhattan.
This was the second most expensive property to change hands last week after an apartment at 22 Gramercy Park South, which had an asking price of $14.5 million, down from $16.25 million when it went on the market in February. The 4,973-square-foot triplex has four bedrooms, five-and-a-half bathrooms and three gas fireplaces, plus a garden and two terraces.
A total of 16 contracts were signed last week at $4 million and above, seven more than the previous week. The median asking price was $6.1 million, while the average discount from original ask to last asking price was 6%, and the average number of days on the market was 245.
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"If you are looking for a silver lining in this number, that’s seven more than the previous week, but it’s wise to keep expectations in check until after Labor Day, when potential buyers return from vacation," said Donna Olshan, president of Olshan Realty.