Paul McCartney sells New York apartment for $8.5m

The ex-Beatle rock star and his wife, Nancy Shevell, sold their penthouse on Fifth Avenue for roughly 45 per cent less than what they paid for it in 2015.

The British rock star is said to have lost millions of dollars on the Fifth Avenue penthouse. Picture: Bertrand Guay / AFP Photo

He’s leaving home.

Famed ex-Beatle Paul McCartney and his wife, Nancy Shevell, have sold their penthouse on New York’s Fifth Avenue for about $US8.5m ($11.8m), roughly 45 per cent less than what they paid for it in 2015, according to a person familiar with the situation.

Mr. McCartney, 79, and Ms. Shevell, 62, bought the co-op apartment for $US15.5m. They listed the unit for $US12m last June but reduced the price to $US10.5m in September, according to listings website StreetEasy. The buyer’s identity couldn’t be determined.

The duplex is located at 1045 Fifth Avenue, a bronze-glass apartment building overlooking the Central Park reservoir. The boutique, 12-unit building has a modern facade on a corridor better known for its classic pre-war co-ops.

The apartment was listed for sale as a white box; the listing described it as “a clean palette,” and “ready for your architect to create a one-of-a-kind custom residence.” The unit was once the home of the building’s original developer, the late Manny Duell, records show. Mr. Duell, who built the structure in 1967, presented the apartment as a gift to his wife, according to the listing. Mr McCartney and Ms Shevell purchased the unit from Mr Duell’s children. The unit is situated above the tree line of the park and has about 40 feet of floor-to-ceiling windows with terraces, according to the listing.

Serena Boardman of Sotheby’s International Realty represented the sellers. CB Whyte of Douglas Elliman represented the buyer. Both agents declined to comment.

Mr McCartney wasn’t available for comment. He recently released a two-volume memoir, “The Lyrics,” which reflects on his lifetime of creative output. Ms Shevell is a former member of the board of the New York Metropolitan Transportation Authority.
The Wall Street Journal