The ninth floor apartment at 927 Fifth Avenue, now owned by 927 Fifth LLC, marks a rare case of LLC ownership in exclusive Upper East Side co-ops.
While corporate ownership is common among luxury condos, co-ops traditionally do not permit them, requiring extensive financial and personal disclosure from potential owners.
The sale's uniqueness raises questions about a potential shift in co-op ownership norms, possibly allowing for changes in eligibility requirements in prestigious New York buildings.
Frederick Warburg Peters expressed surprise at the LLC sale, indicating the rarity of such ownership structures in elite co-ops where anonymity is typically frowned upon.
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