Pharmaceutical exec and pal of the Bush family Bruce Gelb is getting serious about selling his ritzy six-bedroom Manhattan co-op, cutting the price on Thursday by some $27 million.
Mr. Gelb, former vice chairman of Bristol-Meyers Co. and ambassador to Belgium under George H.W. Bush, first listed the co-op at the prestigious Fifth Avenue building for $65 million in April 2016. But the politically connected nonagenarian is apparently looking to move on from his longtime digs as soon as possible, and is now selling the apartment for $38 million—or 40% less.
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Mr. Gelb, 90, put the home on the market shortly after the death of his wife, Lueza. The family had lived in the home since at least the 1960s, according to voter registration records. Their purchase of the ritzy pad predates accessible public property records, making it unclear exactly when and for how much the Gelbs originally bought the home.
The apartment has 15 rooms, with meticulously maintained original details, according to the listing with luxury broker Dolly Lenz.
The apartment has six bedrooms and six bathrooms. Staff quarters are separated from the main living areas by a corridor that connects the kitchen, laundry room and multiple maids rooms, according to a floor plan of the unit. The corner living room, library and dining room have panoramic views over Central Park and city skyline.
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Mr. Gelb is among the laundry list of industry tycoons who own homes in the swanky co-operative at the corner of East 87th Street and Fifth Avenue. His neighbors include billionaire financier and philanthropist George Soros; Alain Wertheimer, who co-owns House of Chanel; and James Simons, founder of Renaissance Technologies Corp.