1010 Fifth Avenue, Estate of the Day

by Deidre Woollard (RSS feed)
Sep 11th 2009 at 1:01PM

I usually feature a New York City home on September 11 since that is where my heart always is on this day. Today's home reflects two key things about Manhattan real estate, its elegance and its falling prices. Cityfile reports that Tony Margolis, who retired as CEO of the Tommy Bahama Group in 2008, has dropped the price of his eighth-floor apartment at 1010 Fifth Avenue for the third time since listing it in January 2008 for for $11.995 million.

The home in one of Manhattan's classic pre-war co-ops has been renovated turning 11 rooms into nine with three full bedrooms. It has a large living room and two of the three bedrooms look out onto the Metropolitan Museum and Central Park. The best room in the house has to be the library with its wood paneling taken from the board room of a Manhattan bank and a flatscreen television mounted into the wall under a wood pediment. The three-bedroom co-op can now be yours for $9.95 million.

Gallery: 1010 Fifth Avenue

Tags: estate of the day, EstateOfTheDay, fifth avenue, FifthAvenue, new york city, NewYorkCity

Filed under: Estates

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DJ Sep 11th 2009 3:10PM

Nice but not spectacular home and DEFINITELY not what I would expect from the CEO of Tommy Bahama. Granted, an overly tropical motif wouldn't be the best for this, but I would expect more color and warmth in rooms other than in the den. The kitchen looks downright sterile, the bathroom has WAY too many mirrors and the overall layout of the other rooms is boring. Honestly, I have seen better decorating in suburban McMansions selling for a fraction of this.