The Ritz property just listed was open space when Marks purchased it back in 2007. He paid $18.9 million for the space then, and over the last several years it has been finished into turn-key condition. The condo features parquet style floors of silver over wood.

Architectural Digest showcased the property in its March 2011 issue.

Marks made New York real estate news back in May when he purchased a Park Ave. duplex for $52.5 million. The price was a record setter for a New York co-op.

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Photo: The Real Deal

The post Oaktree’s Howard Marks Puts $50 Million Condo on NY Real Estate Market appeared first on Haute Residence by Haute Living.

The eight-bedroom, 10,00- square-foot property was formerly owned by Courtney Ross, who is the widow of former Time Warner CEO Steven Ross. It had at one point been peddled privately at $75 million and the two units in the duplex had been listed at $25 and $35 million separately.

The property includes six outdoor terraces, two dining rooms, two kitchens and room for a live-in staff. It also has a pair of libraries and a gym.

The building at 740 Park Ave. has a long lineage of influential residents since its construction in 1930. It's been home to John D. Rockefeller and Jacqueline Kennedy Onassis. Units in the building range from 9 to 34 rooms.

Marks primarily lives in Los Angeles, where Oaktree is based, and will presumably split time between coasts. He adds the New York property to a portfolio that includes two California homes and a flat in London.

His company, Oaktree Capital Group LLC, just reported a first quarter profit this year after losing ground in 2011.

Sources: Bloomberg, The Real Estalker

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