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October 18, 2010

Travelers CEO pays $4.2M for NY apt.

Jay S. Fishman, chief executive officer of Travelers Cos., with major operations in Hartford, bought a Park Avenue apartment for $4.2 million after the price was reduced by almost a quarter from its original listing, Bloomberg News reports, citing Manhattan property records.

Fishman, whose compensation rose by 42 percent in 2009, purchased a three-bedroom, three-bathroom apartment at 1100 Park Avenue.

The "full-service, white-glove" cooperative building "offers residents the highest levels of service and privacy," according to the listing on StreetEasy.com.

"This eight-room prewar residence is perched on a high floor and features excellent light, grand proportions, and 60 feet of Park Avenue frontage," the property listing said. "A 20-foot foyer offers entrance to a vast 28-foot living room with a fireplace that overlooks the Avenue."

Fishman, 57, closed on the apartment on Oct. 5, according to property records. His home address in Englewood, New Jersey, that is cited in the records is the same as the one listed in federal election campaign contributions. Travelers, the largest U.S. property-casualty insurer by market value, last year moved its main executive office to New York from St. Paul, Minnesota.

Shane Boyd, a spokesman for Travelers in St. Paul, declined to comment on Fishman's purchase.

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