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BlackRock CEO Larry Fink Sells Manhattan Pad for $12M

The buyer of the three-bedroom apartment is Alexander Acquavella, whose family owns a notable art gallery on the same street

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A full-floor apartment at 21 East 79th Street that was home to BlackRock CEO Larry Fink was sold for $12 million.

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A full-floor apartment at 21 East 79th Street that was home to BlackRock CEO Larry Fink was sold for $12 million.
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Larry Fink, co-founder and chief executive of investment management firm BlackRock, has sold his apartment on Manhattan’s Upper East Side for $12 million.

Mr. Fink, 65, first listed the full-floor residence at the cooperative building, located on East 79th Street between Madison and Fifth avenues, for $17.9 million in April 2017. He reduced the asking price to $15 million one month later and again to $13.5 million in October 2017, listing records on StreetEasy show.

The listing went into contract this April and closed on May 30 for $12 million, according to property records made public Monday.

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Mr. Fink finally joined the billionaires’ club this April, although BlackRock, which he co-founded in 1994, is the world’s largest money-management firm with over $6 trillion under management.

It wasn’t clear from public records when and for how much Mr. Fink bought the apartment.

Occupying the entire 12th floor at the 15-floor, art deco building, the apartment has a private landing leading to the gallery, living room, library, a corner living room with Central Park views and a dining room.

Living accommodations include three bedrooms, three-and-a-half bathrooms and a separate staff area. The home features pre-war moldings, high ceilings, a wood-burning fireplace and custom mahogany wood built-ins for displaying books and arts, according to a previous listing with John Burger of Brown Harris Stevens.

The buyers of the apartment, per property records, are Alexander Acquavella, whose family owns Acquavella Galleries across the street, and his wife, Mollie Ruprecht, a former Vogue editor.

Acquavella Galleries, operated by Mr. Acquavella’s father, William, has exhibited the works of Monet, Pissarro, Picasso, Matisse and Miró, among others. It has also partnered with Sotheby’s to sell art works privately and through auctions since 1990.

The seller’s agent, Mr. Burger, declined to comment on the sale. Mr. Fink and Mr. Acquavella didn’t immediately respond to requests for comment sent to BlackRock and Acquavella Galleries, respectively.

The Real Deal first reported the sale.