The Year of the Closet! Banking Scion John Loeb Latest Big-Bucks Storage Buyer

122807 480parkavenue The Year of the Closet! Banking Scion John Loeb Latest Big Bucks Storage Buyer2007 was the year of the closet.

Back in March, Robert De Niro’s wife Grace Hightower sold a 67-square-foot closet at Trump Palace for $13,000, about twice what she paid in 2003. Then in November, Google god Craig Nevill-Manning bought some storage space for one of his two penthouses, paying $85,000. And don’t forget that Lionel Pincus is asking $50 million for a Pierre duplex with 35 closets.

But that’s nothing. In September, the banking heir John L. Loeb Jr., once our loyal ambassador to Denmark, paid $5.58 million for a 6.5-room, 1,600-square-foot apartment at the high-heeled 480 Park Avenue co-op. His buyer, the deed shows, is Mexican-born art patron Leon Constantiner, whose collection reportedly includes a massive quantity of Marilyn Monroe snapshots. Mr. Loeb, on the other hand, is said to have built up the heftiest collection of 19th-century Danish art outside of the country.

Maybe he needed more space to keep his paintings? A deed filed with the city this week shows he spent $175,000 for a storage unit in the building. The square footage is unclear (but he paid over 13 times Ms. Hightower’s price, and over twice Mr. Nevill-Manning’s.)

The seller is D. Lee Hayes, a former manager of the municipal bond department at Lehman Brothers. Incidentally, Mr. Loeb is a scion of the Lehman fortune.