In 1920’s New York, many of 5th Avenue’s private mansions were destroyed to make room for an explosion of development of apartment towers. This Town Home – which is rumored to be the last remaining mansion on 5th Avenue – was just purchased by Billionaire Carlos Slim, a Telecom magnate from Mexico.
This 27′ wide structure is located off East 82nd and 5th Avenue, across from the Metropolitan Museum of Art. Built in 1901, the mansion originally belonged to tobacco Barron Benjamin N. Duke. Tamir Sapir, the owner since 2006 put 1009 5th Avenue on the market in January, 2010 listed at $50M.
Mr. Slim closed on the property 7 months later in July. Price tag: $44 million.
Clearly, Mr. Sapir could have sold the property in January for $50 million had he called PlanOmatic. Alas, he did not.