Blackstone’s James Buys Fifth Avenue Apartment for $24.9 Million

Tony James, president and chief operating officer of Blackstone Group LP (BX), purchased a co-op on Manhattan’s Fifth Avenue for $24.9 million.

The deal for the duplex at 834 Fifth Ave. was completed on July 12, according to New York City property records filed yesterday. The seller was Harold Prince, director of Broadway’s “Phantom of the Opera.”

James joins other notable buyers of co-ops in the 16-story building. Last July, Charles Schwab, chairman of Charles Schwab Corp., made a $27.7 million purchase, and Rupert Murdoch, chairman and chief executive officer of News Corp., bought an apartment in 2005, property records show.

“The building has just achieved a reputation over the years by the people that have chosen to live there,” Barbara Fox, president of New York brokerage Fox Residential Group, said in a phone interview. “When you’ve made it, you can go there.”

A phone message left for James with a spokeswoman, Christine Anderson, wasn’t immediately returned. The deal was reported yesterday by the New York Observer.

The co-op, in the Lenox Hill neighborhood, features “exquisite detail,” 12-foot ceilings and panoramic views of Central Park, according to StreetEasy.com. It was on the market since December, the property listings website shows.

-- Editors: Christine Maurus, Kara Wetzel

To contact the reporter: Ashwin Seshagiri in New York at aseshagiri@bloomberg.net

To contact the editor responsible for this story: Kara Wetzel at kwetzel@bloomberg.net.

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