Michael Fux, founder of the sleep products company Comfort Revolution, has finally found a buyer for his Midtown condo.
Though the bedding magnate asked $18 million for the three-bedroom penthouse on East 58th Street in 2023, he sold it for 18% less, at $14.7 million.
Fux originally bought the penthouse for $13 million in 2005 from the building’s developer.
The buyer’s identity is unknown. The condo was purchased in cash by a shell company whose registered agent is a registering firm in Florida.
The 4,494-square-foot condo advertises a personal sauna, floor-to-ceiling windows and a built-in sound system. The apartment’s three exposures in the 55-story tower offer views of Central Park and the East River.
The Midtown East building, constructed in 2005, advertises a fitness center, a lap pool, a sauna and steam rooms. It shares a location with the offices of Bloomberg LP, though the commercial space has a separate entrance. It was the site of an Alexander’s department store until 1992, when the company closed.
Betting big and early on a stretch of the East 50s, developer Vornado Realty Trust made an effort to manicure and bring retail businesses to the neighborhood surrounding the tower, according to a 2006 New York Times article.
Though Fux, a Cuban immigrant, reportedly made his money in the mattress business, he has also become an internet personality, with 138,000 followers on Instagram. Most posts by the businessman feature his extensive collection of luxury and vintage cars, which he also catalogs on his YouTube channel, @SuperCarBaldieFux.
It took nearly two years for the apartment to sell. Alen Moshkovich, an agent at Serhant who represented Fux in the final sale, said sellers in the building face a challenge because they must compete with listings in nearby Billionaires Row, where newer buildings offer better amenities at similar prices. The penthouse also offered a more “Miami” style of decor, Moshkovich said, which may not appeal to all New Yorkers.
Other units in the building have seemingly struggled to sell. A unit on the 46th floor, owned by a company linked to French businessman Cedric Varasteh, was listed in 2023 for $22 million. However last year, it instead was listed as a $60,000 rental.
Hedge fund manager and Mets owner Steve Cohen also had a hard time selling his 9,000-square-foot duplex in the tower, originally asking $115 million. The sale took eight years and a 73% price cut, according to the Olshan luxury market report. However, the buyer was able to turn around and sell the condo for $36 million just months later.
