Wasserstein's Fifth Avenue duplex sees rush of buyers

The 11th floor of the late Bruce Wasserstein's Fifth Avenue duplex apartment hit the market last Friday with an asking price of $26 million, attracting a rush of prospective buyers who were enticed by the unusual move of holding a one-day auction. Several brokers familiar with the listing said brokers were told to provide sealed bids from their buyers by the end of the day Monday, with the four-bedroom co-op at 927 Fifth Avenue due to go into contract soon after, the Wall Street Journal reported. Wasserstein, the brother of playwright Wendy Wasserstein, was known as "Bid 'em up Bruce," for his ability to get high bids in mergers and acquisitions. But it isn't clear whether the Wasserstein estate or the listing broker, Mary Rutherfurd of Brown Harris Stevens, suggested the auction approach. Brokers said the high interest in the Wasserstein unit reflected the scarcity of large Fifth Avenue apartments on the market that are well priced, coming out to about $4,200 per square foot with monthly maintenance fees of $14,776. Wasserstein bought the 11th floor apartment in 2001, for $15 million, from investment banker Richard Gilder.