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Jeffrey Greenberg, the chairman of buyout firm Aquiline Capital and the former head of insurance giant Marsh McLennan, has unloaded his Upper East Side apartment a few years after purchasing a new home on the West Side.
Greenberg and his wife, Kimberly, sold the five-bedroom co-op at 950 Park Ave. for $8.2 million, according to a filing that appeared in the city register Friday. The prewar corner unit, which has five baths, a living room with a fireplace, and a library, had been on and off the market for several years, according to real estate website Streeteasy.
After briefly listing the apartment in 2016 at $13 million, the Greenbergs seem to have hit the pause button before reintroducing the home in 2022 for about $9 million, meaning it finally traded at slightly below asking.
No. 950 Park, at East 82nd Street, offers about 30 units across 14 stories. It currently has three apartments for sale, including a five-bedroom listed in October at $9.5 million.
The buyers of the Greenbergs’ former 4,500-square-apartment were Joe Benavides, the managing partner of private equity firm OceanSound Partners, and his wife, Stephanie, records show.
Jeffrey Greenberg’s sale appears to put the finishing touches on a relocation plan launched years ago. In 2022 Greenberg, a son of former AIG Chief Executive Maurice “Hank” Greenberg, snapped up a four-bedroom duplex at the co-op 88 Central Park West for $9 million. That unit, too, took a long time and sharp discounting to find a taker, as it was originally listed for $18 million in 2016.
Still, not all the units in the Central Park-facing No. 88 have sat for years. Celebrity photographer Annie Leibovitz sold her four-bedroom duplex in February after just a few months of marketing. It went for nearly $11 million, about $2 million more than Leibovitz was seeking.
Founded in 2005, Aquiline acquires tech companies that support the insurance industry. Recent success stories include the sale of seven-year-old Corvus Insurance Holdings, which offers protection against cyber attacks. The Travelers Cos. paid $435 million for Corvus earlier this year. Aquiline has 76 companies in its portfolio, according to PitchBook.
Greenberg founded the firm after abruptly stepping down from Marsh McLennan in the face of an investigation by then-New York Attorney General Eliot Spitzer, who sued March for allegedly rigging insurance prices. Previously, Greenberg spent 17 years at AIG.
A former managing director at asset manager Blackstone, Joe Benavides is today the managing partner of OceanSound Partners, a five-year-old entity that invests in software companies supporting government agencies, according to its website. It has $2.7 billion in assets under management.
Spokesmen for Aquiline and OceanSound declined to comment by press time. Sabrina Saltiel, the Douglas Elliman agent who listed the property, also had no comment. And Russell Miller, the Brown Harris Stevens agent who represented the Benavideses in the deal, did not respond to an email.
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C. J. Hughes , 2024-05-13 18:57:48
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