Bloomberg News

NorthStar’s Hamamoto Sells NYC Co-Op in $50 Million Deal

December 28, 2012

David Hamamoto, chairman and chief executive officer of NorthStar Realty Finance Corp. (NRF:US), sold his Manhattan co-op apartment in a $50 million deal, exactly the price he was seeking when he put it on the market in June.

The sale of the property at 944 Fifth Ave. was completed on Dec. 7, according to New York City property records made public yesterday. The buyer is listed as Frank McCourt, with no other identifying information provided.

The transaction includes a six-bedroom, six-bathroom unit spanning the building’s 11th floor, as well as a ground-floor, two-bedroom guest apartment, according to property records and StreetEasy.com, a real estate listings website. The main apartment, with a private elevator landing and “majestic” views of Central Park, was featured in Architectural Digest, according to StreetEasy.

The listing broker, John Burger of Brown Harris Stevens, didn’t return a telephone call seeking comment on the deal. Hamamoto didn’t respond to an e-mail.

NorthStar, a New York-based commercial property lender and investor, has been involved in deals including seizing Chicago’s landmark John Hancock Center this year from owners that included Goldman Sachs Group Inc. (GS:US)’s Whitehall real estate unit. NorthStar teamed with Deutsche Bank AG to buy out debtholders and take over the building, Chicago’s fourth-tallest.

Hamamoto also served as executive chairman of Morgans Hotel Group (MHGC:US), owner of the Delano in Miami Beach, Florida, and the Hudson in midtown Manhattan. He resigned from that position and the board of Morgans on Nov. 27.

To contact the reporter on this story: Oshrat Carmiel in New York at ocarmiel1@bloomberg.net

To contact the editor responsible for this story: Kara Wetzel at kwetzel@bloomberg.net


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Companies Mentioned

  • NRF
    (NorthStar Realty Finance Corp)
    • $15.12 USD
    • 0.11
    • 0.73%
  • GS
    (Goldman Sachs Group Inc/The)
    • $157.44 USD
    • 0.22
    • 0.14%
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