Lisa Perry’s Sutton Place penthouse is being relisted for $26 million.

Lisa Perry's Sutton Place penthouse is being relisted for $26 million.

A 2023 photograph of a front room exhibits gallery-like white painted partitions. Virtually equivalent pictures have been used within the earlier two lists.
Photograph: StreetEasy

When dressmaker Lisa Perry put her penthouse at 1 Sutton Place in the marketplace in 2020, the fashionable masterpiece acquired fawning articles within the design press. Stay I swooned over the “joyful” skyline abode “surrounded by pop artwork,” whereas Architectural digest She described the stark white partitions and flashes of major coloration as a “distinctive function.” Perry aestheticHowever the rental, in the marketplace for $45 million, went unsold. (Perhaps it will have been value mentioning the Liechtenstein between the lounge home windows?) It returned to the market to a quieter reception in June 2022, asking $37.5 million, however there was none. Patrons at the moment too.

StreetEasy itemizing since Tal Alexander was the dealer.
Photograph: StreetEasy

A couple of weeks in the past, it was Calmly repeat the list For the third time, with Serena Boardman from Sotheby’s, at a a lot cheaper price of $26 million. Photos of Perry’s playful front room and spectacular artwork assortment are displayed in all three listings in a really comparable method. However in fact, the gathering the house was designed to show won’t be included. “I feel the worth now might be rather more real looking,” says one dealer. “It is a good house, however I do not know that it will have ever traded for $45 million.”

Even $26 million could also be optimistic. It is a powerful market proper now, and patrons are obsessive about corporations, as brokers I spoke with confirmed. Good previous co-ops, though “extremely tight-knit”, don’t command the premium they as soon as did. “Look, co-ops on the whole are a lot tougher to promote today,” one dealer advised me. “Nobody needs to cope with boards or necessities.”

The ground plan, as proven on this StreetEasy itemizing, was transformed by Perry.
Drawing: StreetEasy

The factor about this house — a four-bedroom, six-and-a-half-bath penthouse atop an previous co-op — is that it’s, as one dealer says, “a selected style for a selected consumer.” An ideal house for Lisa Perry, in different phrases, however maybe not for anybody else. It is a strikingly up to date house — gallery-like with white marble flooring and white-washed partitions — in an old school, upper-class constructing in a neighborhood recognized for being largely comparable. “It is one among New York’s iconic buildings,” says one dealer, describing the elegant house designs, gorgeous backyard and views of the East River. “However some folks have no real interest in residing on this neighborhood.”

The library is pictured from a StreetEasy itemizing when the penthouse was asking $45 million.
Photograph: StreetEasy

Even the massive balcony, which provides greater than 7,000 sq. ft of outside house, is a double-edged sword. Everybody needs out of doors house, however “that is an enormous quantity,” one dealer advised me, including that it is lovely however such an abundance of porch would require loads of upkeep and cash. That is along with the cooperative’s month-to-month upkeep charges of $38,400. Whereas some might take pleasure in wandering round their yard, a penthouse balcony requires skilled consideration.

A whimsical bed room in a photograph from a present StreetEasy itemizing.
Photograph: StreetEasy

Many patrons with $26 million to spend need a constructing with swimming pools, pet spas, and liberal sublease insurance policies, whereas those that are prepared to surrender all of the fancier facilities for a constructing with nice old-world appeal usually need an house with appeal. The noble previous world. Additionally: French doorways, wooden paneling, marble fireplaces, hardwood flooring. (One thing extra alongside the strains of 2Ca six-bedroom basement with herringbone flooring, wood-burning fireplaces and unique items, is listed for $8.5 million.)

When Perry and her husband, Richard, a hedge funder, purchased the house from an property Social philanthropist Janet Annenberg Hooker in 2000 For $10.9 million, they employed inside designer Tony Ingrao to blur the penthouse’s old-money aura. “The previous moldings, boards and cabinets are out; White paint, neon lighting, and paintings by Warhol, Lichtenstein and Vasarely have been used. New York times books In 2002.

That was 20 years in the past – that’s, even when the customer wished it Given the outdated high quality of Perry’s old-school co-op fashion, it can nonetheless want updating. Nobody needs to do a renovation now. “It is lovely,” says one dealer. “But it surely’s a interval piece.”

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