Brooke Astor Home Sells For 50% Off; Sotheby’s To Auction Effects

Brooke Astor’s home at 778 Park Avenue recently sold for $21 million, about half the original asking price. The buyers were Daniel and Brett Sundheim. Mr. Sundheim is a portfolio manager at the hedge fund Viking Global Investors.

Reports Crain’s:

The apartment, which has six terraces and five fireplaces, occupies the building’s entire 16th floor and part of the 15th, according to the property listing on brokerage Stribling & Associates’s website. The original asking price of $46 million in May 2008 was cut three times before the sale, real estate listings website shows.
The apartment reflects Ms. Astor’s “remarkable and renowned personal style,” Stribling & Associates said in the listing. “The Astor residence is exactly what it should be: the architectural reflection of a grand life well lived.”

And today the New York Times reports that Sotheby’s will auction the grande dame’s effect next April. Quoth the Times:

There will be jewelry as well as fine and decorative arts from her Park Avenue apartment and Holly Hill, her Westchester estate. Details were scant and the announcement promised that “further information about the contents of the auction will be distributed by Sotheby’s in early 2012.’’ It did place a value on the offerings – “in excess of $5 million” – providing a clue that the auction might be little more than a high-profile attic sale.