Broad Sells Manhattan Co-Op for $8 Million After Price Cut

Eli Broad, the billionaire philanthropist and co-founder of KB Home, sold a co-op on Fifth Avenue in Manhattan for $8 million, more than two years after listing it for almost twice as much.

Broad, founder of the Broad Foundation in Los Angeles, sold Unit 33T in the Sherry-Netherland hotel on Fifth Avenue and 59th Street, city property records show. The transaction was completed on March 11. The buyer is listed as Bedford Falls LLC.