Retired AIG exec pays $3.45 million cash for Central Park South coop

By Carol Eisenberg

October 2, 2008 at 12:24pm

Some people have a knack for exits.

Robert M. Sandler retired as an executive vice president from American International Group in April – less than six months before the insurance giant was rescued from the brink of collapse by an $85-billion federal bailout.

Earlier this week, Sandler and his wife, Annette, paid $3.45 million in cash for a three-bedroom coop at 150 Central Park South, where their neighbors will include Italian Baroness Mariuccia Zerilli-Marimo and lawyer Michael Kennedy and wife Eleanore.

A Corcoran agency listing, cited by the New York Observer, describes a 2,045-square-foot coop in Hampshire House with windowed kitchen and custom cabinetry, a master bedroom suite with two walk-in closets; a steam shower and Jacuzzi, new herringbone floors and a monthly maintenance charge of $4,333.

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That shouldn’t break the bank for the Sandler household, though.

Besides taking home $1.45 million in salary and bonus last year, Sandler received stock awards and other long-term compensation that resulted in a package calculated by Business Week at $10 million last year.

A retirement notice from AIG said the 40-year veteran would serve as a consultant through the end of this year.

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