N.Y. holding co. heir spends $28M in Upper East Side

 65 Jonathan M. Tisch bought a condo at 855 Fifth Ave. on the Upper East Side for $48 million from Myrna Ronson on July 16.

Tisch is co-chairman of the board and a member of the office of the president at Loews Corp., a New York-based holding company founded by his father, Preston Robert Tisch, and his uncle, Laurence Tisch, in 1946.

He serves as chairman and CEO of its subsidiary, Loews Hotels, where he oversees a portfolio of 18 hotels and resorts in the U.S. and Canada, including the Regency Hotel in New York. He also manages a number of assets under the family's control such as the New York Giants, for which he serves as treasurer.

Tisch also hosts the television series "Beyond the Boardroom," where he goes one-on-one with the nation's leading CEOs. He currently serves as chairman of the Travel Business Roundtable.

Tisch has previously served on the U.S. Department of Commerce Travel and Tourism Advisory Board and was an officer of the American Hotel and Lodging Association. He also served as chairman of NYC & Co., the city's official tourism marketing agency and local convention and visitors' bureau.

Earlier, Tisch worked as a cinematographer/producer at WBZ-TV in Boston, for which he received two local Emmy nominations.

He has authored the business books, The Power of We: Succeeding Through Partnerships and Chocolates on the Pillow Aren't Enough: Reinventing the Customer Experience and has starred in the premier episode of Now Who's Boss?, a television series by TLC and New York Times Television.

He graduated from Tufts University, where he currently serves on the board of trustees.

Ronson is the former wife of the late British skyscraper developer, Howard Ronson.

Condo sales in Upper East Side/Carnegie Hill are up four percent in 2007 versus sales in 2006. The median sales price remained the same at $1.7 million so far this year.

In 2007, the median sales price in 855–856 5th Ave. was $26 million.

Address: 855 5th Avenue, Unit: 11
Buyer(s): Tisch and Jonathan M
Seller(s): Ronson and Myrna
Sale date: Jul. 16, 2008