Investment banker opts for Upper West Side co-op

Medium 7440638e9a23c241939fcbf231993a0d Spencer C. Fleischer and Caroline M. Fleischer bought a three-bedroom, two-bath condo at 23 W. 73rd St. on the Upper West Side from Elisa B. Schnur and Jonathan Schnur for $2.5 million on Sept. 8.

The Schnurs bought Unit #907 for $1.7 million in Dec. 2004. The unit is in the Park Royal, a cooperative apartment building just across the street from the north side of the famous Dakota.

Mr. Fleischer is president of California's Friedman, Fleischer & Lowe, an investment firm that he co-founded in San Francisco in 1998.

Prior to forming FFL, he worked for Morgan Stanley for 19 years as an investment banker and manager. He is currently also a director of JonesTrading Institutional Services and Wilton Re Holdings Ltd.

He received his B.A. in economics of the University of the Witwatersrand in Johannesburg, South Africa and his master's from Oxford University.

The Park Royal, which was built in 1926 as a luxury residential hotel and converted to a cooperative in 1985, has 243 units on 15 floors.

According to BlockShopper.com, there were 375 sales on the Upper West Side in 2008, with median sales price of $775,000.

Address: 23 West 73rd Street, Unit: 907
Buyer(s): Fleischer, Caroline M, Fleischer and Spencer
Seller(s): Schnur, Elisa B, Schnur and Jonathan
Sale date: Sep. 8, 2009

BlockShopper