The New York City penthouse of late Seagram billionaire Edgar Bronfman Sr. has gone under contract for sale for $70 million, making it possibly the most expensive Manhattan co-op ever purchased, according to reports.
According to The Wall Street Journal, a fierce bidding war pushed the price of the place, which debuted last month, up a full $5 million from its original asking price of $65 million.
The home's old-world charm reportedly helped it sell so quickly, but according to the New York Post, at least one insider thinks that whoever purchased the property will have to give it a complete makeover.
"The apartment needs work. It needs a complete gut renovation. It is nothing like what you would build today. It doesn't have the right flow," the source said.
The residence was listed by the late philanthropist's children. Listing records of the pre-war residence show that the place, located at 960 Fifth Ave., is a 16-room residence with five bedrooms and 8.5 bathrooms.
Interiors of the home feature drywall ceilings, French doors and windows that offer 100 feet of Central Park frontage.
Floor plans of the L-shaped home show a private landing entrance opening into the large living room. A formal dining area resides to the left, while a library sits on the right of the living room. Right opposite of the dining room is a gourmet kitchen with a pantry and separate breakfast room.
The library opens into a long corridor lined by a powder room and several guest bedrooms. At the end of the corridor lies the master suite with an attached bath and access to a large exclusive dressing room.
A laundry room and a staff quarters complete with attached bathrooms are also included.
According to the listing, the family has lived in the house for 40 years. The place, it reads, is "one of a kind" with "360 degree exposures and all important rooms on one level."
Mary Rutherford, Alina Pedroso and Leslie Coleman of Brown Harris Stevens shared the listing.
Check out the photos of the residence here.
