Luxury Manhattan Co-Op at 781 Fifth Avenue Listed for $78 million

Kathy Sloane is a New York luxury real estate broker who has achieved more than $1 billion in sales, including residences for the Clintons spanning Washington, DC, and Chappaqua, New York. In October 2015, Kathy Sloane engaged as broker with a Chinese real estate investor who had purchased a Sherry-Netherland penthouse at 781 Fifth Avenue for nearly $70 million the previous spring.

At its initial listing price of $86 million, the 9,000-square-foot, 18th-floor co-op, which was created by combining a number of smaller apartments over the years, would represent the most expensive co-op in the city by a wide margin. Encompassing eight bathrooms and seven bedrooms the apartment also includes 2,000 square feet of outdoor space.

In June 2016, the asking price was reduced to $78 million, which Mrs. Sloane characterized as a highly competitive price for a premier property that is accessible to qualified offshore buyers. The re-listing indicates the sellers’ seriousness in arriving at a sale, which would just set a record as New York’s priciest co-op transaction. The current mark for highest-value property purchase was set by Leonard Blavatnik, who paid $77.5 million to acquire an 834 Fifth Avenue duplex from Woody Johnson, owner of the New York Jets.