Fort Worth billionaire nabs $28M pad at 212 Fifth
Ed Bass paid just under $4K psf for two combined units
New York /
A Texas bigwig worth a reported $3 billion has scored himself a $28 million New York City pad.
Ed Bass, the Fort Worth billionaire best known for bankrolling a “Biosphere” experiment that sought to recreate the earth in space, shelled out for two adjacent apartments at the condo conversion at 212 Fifth Avenue, according to a source close to the deal.
Together, the two apartments on the 19th floor total more than 7,100 square feet and have seven bedrooms. He paid just under $4,000 per square foot for the units.
A spokesperson for Bass was not immediately available for comment. The developers of the building Madison Equities, Building Land Technology and Thor Equities declined to comment.
The new development team at Town Residential represented the developers in the deal while Ben Hayden, formerly of Stribling Associates, represented the buyer. Both Hayden and a spokesperson for Town declined to comment.
Bass shares an oil and gas fortune with his siblings, according to Forbes. In the 1980s, he funded a ill-fated project designed to create a sealed, self-sustaining world that could survive outside of planet Earth. It was seen as a bid to find a way to settle Mars.
The Fifth Avenue building, currently in construction near Madison Square Park, will have 48 units. The penthouse is asking a staggering $68.5 million, or $6,850 per square foot.
The Real Deal reported earlier this month that Charles Kushner, father of President Donald Trump’s son-in-law and senior adviser Jared Kushner, bought three units at the building for $12.5 million.
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