73.3 F
New York
Thursday, May 23, 2024

Cosmetics Billionaire William Lauder Buys the Late Claudia Cohen’s Park Ave Apt for $25M 

Related Articles

-Advertisement-

Must read

Getting your Trinity Audio player ready...

By: TJVNews.com

William Lauder, the billionaire makeup mogul and executive director of the Estée Lauder Companies, has recently made a significant real estate purchase. He acquired the luxurious Park Avenue apartment previously owned by the late Page Six gossip queen Claudia Cohen, as was reported by the New York Post.  The transaction, valued at $24.95 million, adds to Lauder’s impressive portfolio of high-end properties. This acquisition follows his purchase of the late talk show host Rush Limbaugh’s Palm Beach mansion earlier this year, according to the Post report. Lauder’s real estate ventures reflect his taste for extravagant residences and his desire to create a spectacular duplex in the prestigious Upper East Side building.

One of the bedrooms in the Park Avenue apartment that was purchased by William Lauder. Credit: VHT

Located at 778 Park Avenue, the five-bedroom co-op spans the entire 12th floor of architect Rosario Candela’s iconic building. Initially listed for $27.9 million in 2020, the Post reported that the property offers 5,500 square feet of living space. The apartment boasts 11-foot-high ceilings, crown moldings, and hardwood floors. Abundant natural light streams in through 34 windows, offering stunning views of the city skyline and a glimpse of Central Park, as was reported by the Post.

Upon entry, the co-op features a private elevator landing that leads to a gallery and a living room adorned with a woodburning fireplace and three oversized windows overlooking Park Avenue, according to the Post report. Additional highlights include a formal dining room with another fireplace, a wood-paneled library with custom built-ins and a third fireplace, and a large eat-in chef’s kitchen with a pantry.

A sitting room with unique wall art in the Park Avenue apartment. Credit: VHT

The residence also comprises a “staff wing” equipped with laundry facilities, a dining room, two maid’s rooms, and a bathroom. The Post reported that the bedrooms are situated in another wing, including a spacious corner primary suite with an ensuite bath and a dressing room.

The 20-story building, constructed in 1931, contains a total of 18 apartments. The Post reported that Lauder previously owned a full-floor unit on the 14th floor, which he listed for $45 million in 2019. Despite lowering the price to $39 million in 2021, the apartment did not sell. It is now speculated that Lauder intends to combine his 12th and 14th floor apartments, creating a grand duplex within the building, the Post reported. Sources suggest that Lauder might be planning to move back to this prestigious address from his current residence at 998 Fifth Ave., where he acquired a $23.5 million apartment in 2017.

The apartment has oversized windows. Pictured here is an office/living room-den. Credit: VHT

The broker on the deal was Steven Cohen of the prestigious Douglas Elliman real estate firm. Mr, Cohen declined to comment to the Jewish Voice about the deal.

William Lauder’s recent real estate acquisitions have garnered significant attention. The estate that was owned by Rush Limbaugh and bought by Lauder spans 2.7 acres, the Post reported.  It  was initially purchased by Limbaugh for around $3.9 million in 1998. These high-profile transactions demonstrate Lauder’s affinity for exclusive properties and his willingness to invest in iconic residences.

The display of fine art can be seen everywhere in the Park Avenue apartment. Credit: VHT

Ronald Perelman, the billionaire businessman and executor of Claudia Cohen’s estate, was previously married to Cohen. Their marriage and divorce attracted media attention, aligning with Cohen’s role as a gossip columnist. Perelman, who has had a successful career as an investor and businessman, played a significant role in the acquisition of Cohen-Hatfield Jewelers in 1978, which marked his first independent deal. Over the years, Perelman has made several notable acquisitions and donations, diversifying his business portfolio and supporting various philanthropic causes.

He has donated substantial sums to educational institutions such as Princeton University and the University of Pennsylvania. At Princeton, Perelman gave $4.7 million to establish the Ronald Perelman Institute for Jewish Studies. He also gave $20 million to the Guggenheim Museum. From 2006 through 2008, Perelman donated $63.5 million to causes including, but not limited to: Weill Medical College of Cornell University, Stand Up to Cancer (SU2C), World Trade Center Memorial Fund and Ford’s Theatre, Carnegie Hall and the World Trade Center Memorial, as was reported by Wikipedia. In February 2008, Perelman made a $50 million donation to the New York Presbyterian Hospital and Weill Cornell Medical Center to create the Ronald O. Perelman Heart Institute, and to provide vital financial aid to the Ronald O. Perelman and Claudia Cohen Center for Reproductive Medicine.

Art work displayed in one of the bathrooms in the apartment. Credit: VHT

Perelman also gave a total of $16 million to 581 nonprofit organizations, including Big Brothers Big Sisters, in Philadelphia; the Michael J. Fox Foundation for Parkinson’s Research, in New York; the National Association for the Advancement of Colored People, in Baltimore; the Rainforest Foundation U.S., in New York; and other arts, education, Jewish, medical research, and women’s-health groups, as was reported by Wikipedia. Perelman serves as a member of the board of directors of the Police Athletic League of New York City, a nonprofit youth development agency serving inner-city children and teenagers. On June 3, 2011, Perelman was honored for his charitable contributions at the New York Police Foundation’s 40th Anniversary Gala at the Waldorf Astoria in New York City—an event that raised $2.3 million for charity.

The apartment comes with hardwood floors and 11 foot high ceilings. Credit: VHT

Since 2013, Perelman donated $50 million to the NYU Langone Medical Center to create the Ronald O. Perelman Center for Emergency Services,$25 million to the University of Pennsylvania to create a new Center for its Economics and Political Science Departments, and $100 million to the Columbia Business School, the graduate business school of Columbia University. The gift will be used to support the construction of new facilities in Manhattanville, including the Ronald O. Perelman Center for Business Innovation, and donated $75 million to revive plans to build a performing arts center at the World Trade Center site, Wikipedia reported.

No shortage of artwork in the hall of the Park Avenue apartment. Credit: VHT

In May 2015, Perelman succeeded Sanford I. Weill as Chairman of Carnegie Hall.and since 2010 he has also hosted annual benefits for the Apollo Theater, raising millions of dollars annually for the legendary venue.

He has also done deals with Revlon Corporation, thrifts for $315 million and renamed it First Gibraltar Bank, Coleman Company, Sunbeam Products, and New World Entertainment.

Another lovely room in the massive Park Avenue apartment. Credit: VHT
The late Claudia Cohen was the previous owner of the Park Avenue apartment. She was married to billionaire businessman Ronald Perelman but the two were divorced. She was also a gossip columnist at the New York Post and filed stories with the wildly popular Page Six section of the newspaper. Credit: CBSNews.com

balance of natureDonate

Latest article

- Advertisement -