Karl Lagerfeld Sells NYC Co-op for $4.5M

The German fashion guru Karl Lagerfeld has finally sold his co-op at 50 Gramercy Park North for $4.5 million. The super, white-themed, luxury apartment had been on the market for 9 months and went temporarily off the market in December. It must have stung Karl to give the apartment away for a whopping $2.25 million less than he paid for it in 2006. The reason for the poor interest in the apartment is probably the high maintenance costs.

The question is, will the loss of $2.25 million haunt him forever? Surely not! Karl Lagerfeld is the head-designer and director of Chanel and Fendi and owner of his own brand “Karl Lagerfeld”. A man in his position won't cry over this!

Anyways, the Gramercy Park apartment has 2150 square feet and 6 rooms, 3 bedrooms and 3.5 bathrooms. The building was built in 1924 but renovated and converted into a co-operative in 2006. It has a fitness room, laundry room and a common storage room for its 23 apartments on 17 floors.