Music Biz In Slump, Edgar Bronfman Not

As the music business continues its downward trend, Warner Music chief Edgar Bronfman Jr. has found another way to make millions.  The music group head has sold his 31-foot-wide townhouse at 15 East 64th Street for $50 million – he bought it in 1994 for $4.37 million – according to the New York Observer.

If my math is right, that means he made about a trillion dollars on the deal, give or take, although, as the Observer points out, it couldn’t have been cheap to pull off the four year “turn the nine unit apartment building into one townhouse” gut job.

Bronfman is now moving to 1040 Fifth Avenue where he purchased an apartment for $19.5 million. Curbed has the floor plans here.

In other Upper East Side real estate news this week – my rent went up $180 a month.

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