Oaktree Capital’s Howard Mark buys 740 Park Avenue Duplex Sells for record $52.4 Million!

Oaktree Capital’s Howard Mark buys 740 Park Avenue Duplex Sells for record $52.4 Million! Courtney Ross' 740 Park Avenue Duplex Sells for $52 Million - Photo Courtesy BHS

Not So hush hush! In New York luxury real estate market the sale of Courtney Sale Ross’ 30-room, 740 Park Avenue duplex for $52.4 million to Howard and Nancy Marks, as reported by The Observer and Curbed set a new record for the most expensive Manhattan luxury co-op sale. The asking price was $60 Million.

Mr. Marks is the founder of Oaktree Capital, a $75 Billion investment fund involved in distressed debt. They also have homes in LA and London. The Observer reports that Ms. Marks serves on the Board of the American Ballet Theater and the Los Angeles Museum of Contemporary Art among other charitable organizations. Mrs. Ross was the wife of late Time Warner CEO, Steve Ross. They purchased and combined two units in the 1980’s for $8 million.

740 Park Avenue is considered to be New York’s one of (if not the) most exclusive Manhattan co-op residences and was designed by famed architect Rosario-Candela.

Per Tony Sargent, SVP at CORE super-prime Manhattan luxury condos, luxury co-ops and townhouses are in very high demand and Downtown and Upper East Side prime properties are commanding premium prices. Whether buying or selling you need a solid strategy to win in this marketplace. Contact me for more information.

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