Big Ticket: Estée Lauder Chairman Buys $23.5 Million Co-op

Big Ticket: Estée Lauder Chairman Buys $23.5 Million Co-op

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There were other noteworthy sales last month. The shoe designer Steve Madden closed on a condominium at a new Midtown East development. The actress Amy Irving sold her Central Park West co-op; and Izvor Zivkovic, a longtime manager of Kanye West, purchased a loft on (yes!) West Street in TriBeCa.

Also, Howard Marks, a founder of the investment firm Oaktree Capital Management, and his wife, Nancy, finally sold their full-floor apartment at the Ritz-Carlton, at 50 Central Park South, for $25 million, half of what they had initially hoped to get for it.

MR. LAUDER’S NEW RESIDENCE at 998 Fifth, unit No. 6W, was first listed in November for $29 million and was reduced in January to $27 million. It has five main bedrooms and six baths, along with sweeping views of the museum.

William P. Lauder, executive chairman of the Estée Lauder Companies, on the floor of the stock exchange in 2014.

Credit
Brendan McDermid/Reuters

Mr. Lauder acquired the unit from the estate of Ronald P. Stanton, a refugee from Nazi Germany who made a fortune in petrochemicals through his company, Trammo. Mr. Stanton, a noted philanthropist who died last year, had bought the apartment from Archibald Cox Jr., the son of the Watergate prosecutor.

The apartment was extensively renovated, though many original architectural flourishes remain. There are decorative wood paneling and moldings, wood-burning fireplaces, as well as hardwood floors, oversize windows and soaring ceilings throughout.

The home has a long windowed gallery that leads to the entertaining space, which also includes a huge oval library, on the northern end. The bedrooms face south on 81st Street, and include a master suite, which has two marble baths, a sitting room converted from a bedroom with a walk-in closet, and additional closets. There are also staff rooms off the windowed kitchen.

Serena Boardman of Sotheby’s International Realty was the listing broker, while Cathy Franklin of the Corcoran Group represented Mr. Lauder.

The 12-story Italian Renaissance-style building at 998 Fifth — converted from a rental to co-op in 1953, and designated a landmark in 1974 — was designed by McKim, Mead and White. It was developed by James T. Lee, the maternal grandfather of Jacqueline Kennedy Onassis, the former first lady.

SEVERAL BLOCKS AWAY, at 252 East 57th Street, a new 65-story glass condominium near Second Avenue, Mr. Madden bought a spacious apartment with oversize windows that provide views of Central Park and the East River.

Steve Madden paid $12.43 million for a five-bedroom apartment at 252 East 57th Street.

Credit
Tony Cenicola/The New York Times

Mr. Madden, the founder of the publicly traded footwear company bearing his name, paid $12.43 million for No. 61A, a 4,624-square-foot apartment with five bedrooms and six and a half baths. The unit also has a library, an eat-in kitchen and a large living/dining room space with a fireplace and balcony.

The designer Steve Madden at his flagship store in Times Square.

Credit
Nathan Bajar for The New York Times

AT 50 CENTRAL PARK WEST, Ms. Irving, who starred in “Carrie” and other movies, sold her 3,200-square-foot apartment, unit No. 8CD. It has six bedrooms, four full baths and a large eat-in kitchen with a pantry. The sale price was $7.54 million, a sizable drop from the original list price of $11.5 million in 2015. Ms. Irving had bought the co-op apartment in 2005 for $6.9 million.

Mr. Zivkovic, who is known in the music industry as Izzy, paid $4.76 million for his apartment: a 2,317-square-foot, loft-like residence at 250 West Street, between Laight and Hubert Streets with views of the Hudson River. The apartment, No. 4B, has two bedrooms and two and a half baths, as well as a den/office.

A view of the apartment on the 33rd floor above the Ritz-Carlton.

Credit
Richard Perry/The New York Times

MR. AND MRS. MARKS sold their apartment on the 33rd floor above the Ritz-Carlton for $25 million. The couple had put their home on the market in May 2015 for $50 million, though its most recent asking price had dropped considerably, to $27.5 million. The monthly carrying charges total $13,684.

This sprawling apartment, at around 4,600 square feet, offers panoramic Central Park and skyline views, as well as a variety of services from the Ritz-Carlton, according to the listing with the Corcoran Group. The buyer’s identity was shielded by a limited liability company.

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