The full-floor Fifth Avenue apartment of late Broadway producer James M. Nederlander is headed for auction next month without reserve, according to Platinum Luxury Auctions, which is handling the sale.
The Manhattan apartment sits near the top of 838 Fifth Ave., a rare 12-story condominium in a sea of exclusive prewar co-ops along the eastern edge of Central Park. Without a reserve price, the sprawling three-bedroom unit and accompanying one-bedroom staff apartment, which together once asked as much as $27.5 million in 2019, will sell to the highest bidder regardless of the final auction price.
The auction will take place for registered bidders in person at the apartment on Feb. 17, with remote bidding available to those with a representative on site, according to Platinum Luxury Auctions.
Nederlander, who died in 2016 at age 94, helmed The Nederlander Organization, which owns numerous Broadway theaters as well as stages across the pond in London’s West End, and owned with his brothers a stake in the New York Yankees. He was a 10-time Tony Award winner for producing hits like “ Sweet Charity ” and “The King and I,” and won accolades for producing recent revivals “ Annie ” and “Fiddler on the Roof.”
As such, the businessman and his wife, Charlene , often played host at their Fifth Avenue apartment to a revolving cast of Broadway, Hollywood and sports stars, Mansion Global previously reported when it was last listed for sale.
At more than 4,500 square feet, the home has all the flourishes of a Fifth Avenue apartment, including a tiled entryway lined in detailed molding and millwork, coffered ceilings, parquet floors and a wood-paneled library with built-ins, according to information provided by Platinum Luxury Auctions.
The home’s great room spans 45 feet with picture windows overlooking Central Park, and sits adjacent to the library and eat-in kitchen. The three bedrooms are arranged across the eastern half of the apartment.
There are updated bathrooms and fireplaces in the great room, library and main bedroom suite, a floor plan of the home shows.
The Nederlanders purchased the condo 2000 for $13.47 million, according to property records, and the family has listed the home for sale on and off for more than a year. The condo was most recently asking $16.99 million with Brown Harris Stevens’s agents Mark J. Cohen and Carol Cohen .
The 1950s building, which sits at the corner of East 65th Street, was converted from an office building in the 1990s, and still bears an original inscription across its facade: “Love Thy Neighbor as Thyself; Do Justice. Love Mercy . Walk Humbly With Thy God.”
The auction comes as some New York luxury sellers have had to get creative during the Covid-19 pandemic, according to The Real Deal, which first reported the Nederlander auction.