The sale is most certainly on. J. Crew CEO Mickey Drexler has slashed a whopping $15 million off the price of his Tribeca loft after it languished on the market for close to two years.
The 72-year-old fashion boss’s 6,226-square-foot spread has just reappeared for sale with a $19.95 million price tag, way below the original $35 million it was first listed for in April 2015, according to listing records.
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In between 2015 and today, there were several other price cuts, with it last appearing on the market for $22.5 million in August. The listing was removed entirely in January.
Listing images reveal the five-bedroom pad’s stylish interiors designed by French architect Thierry Despont, including arched windows, original columns and industrial doors— of course, we’d expect no less from a fashion industry bigwig.
The building—on Franklin Street—is a boutique, 12-unit, full-service condominium with 24-hour doorman and is just down the block from the Tribeca address Taylor Swift calls home when she’s in town.
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Property records show that 140 FRANKLIN STREET LLC paid $14.3 million for the apartment in 2012. PropertyShark’s records link the LLC to J. Crew’s headquarters in New York.
A spokeswoman for J. Crew declined to comment, while the listing agents, Jim St. Andre and Shaun Osher of CORE, did not respond immediately to request for comment.