Life is pretty good when you’re one of Steve Roth’s oldest friends. David Mandelbaum, a lawyer, has had his fortunes closely tied over the years to Roth, CEO of Vornado, the largest commercial landlord in New York City. Mandelbaum started investing with his chum in 1964, and sits on the boards of both Alexander’s, the REIT controlled by Vornado, as well as Vornado itself.
Back in October 2019, Mandelbaum and wife Karen dropped $23.4 million on a Central Park South condo in a building, naturally, built by Roth’s Vornado. The renovations to the new place must finally be finally done, because the Mandelbaums just sold their previous condo on Central Park West for $19.5 million. The listing broker was Deborah A. Kern with Corcoran.
The 38th-floot Central Park West condo spans 2,761 square feet, with two or three bedrooms and 3.5 baths. There’s about 40 linear feet facing the park so, of course, the views are pretty epic. Although they initially wanted $25.75 million for the place, the Mandelbaums paid $11.8 million back in 2008 so, even with the discounted sale price, made a nice return on their investment.
The semi-private landing leads into a foyer decorated with silver leaf, while the living and dining rooms, as well as the den, contain macassar ebony paneled accent walls. There are also beautiful dark-stained herringbone parquet floors. The den, which can be closed with pocket doors, could become a third bedroom as it also sports a full bathroom. The new owner would presumably then remove the gold-leafed bar with LED lighted quartz top. Or maybe not. Since money isn’t an obstacle for folks who buy $20 million apartment, move it to the living room, we say.
The kitchen includes seating for four in a built-in banquette, while the master bedroom offers silk-clad walls, a custom strap-molded plaster ceiling, dressing area, and a very veiny marble bathroom with separate soaking tub. There’s also a powder room and a washer-dryer off the gallery.
A limestone-clad edifice designed by Robert A.M. Stern, amenities in the white-glove building include a landscaped motor court (only high-end buildings have “motor courts”), a garage, a 14,000 square foot gym with a 75’ lap pool, a media room, a wine room, a business center and meeting space, a game room, a private restaurant, an landscaped terrace, and a playroom for the kids.
Mandelbaum, In 2005 part of a partnership that purchased the Minnesota Vikings for a reported $600 million, making him a minority owner, probably would have hogged the TV in the media room during NFL games. He and Karen also own property in Florida’s Jupiter Island.