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	<title>Observer &#187; Wexner Asks $60 M. at Godly 834 Fifth</title>
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		<title>Observer &#187; Wexner Asks $60 M. at Godly 834 Fifth</title>
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		<title>Wexner Asks $60 M. at Godly 834 Fifth</title>

		<comments>http://observer.com/2009/01/wexner-asks-60-m-at-godly-834-fifth/#comments</comments>
		<pubDate>Wed, 21 Jan 2009 00:38:34 -0400</pubDate>
					<link>http://observer.com/2009/01/wexner-asks-60-m-at-godly-834-fifth/</link>
			<dc:creator>Max Abelson</dc:creator>
				
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		<description><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/transferswexner.jpg?w=300&h=199" />By January 1996, the billionaire <strong><span style="letter-spacing: -0.15pt;font-family: 'Exchange Text Bold'">Les Wexner</span></strong><span style="letter-spacing: -0.15pt"> hadn’t spent two months in his 21,000-square-foot stone mansion on East 71st Street, even though he had bought the place seven years earlier, his protégé Jeffrey Epstein told <em>The Times</em>. Never mind that it had been outfitted with a hidden lead-lined bathroom (with a closed-circuit TV) and a heated sidewalk to keep the mansion snow-free. Mr. Epstein, who has since become a billionaire as well, eventually moved into that mansion—because, of course, real estate is a terrible thing to waste. </span>
<p class="text"><span style="letter-spacing: -0.15pt">This week Mr. Wexner is doing something else with his family’s rarely used duplex at </span><strong><span style="letter-spacing: -0.15pt;font-family: 'Exchange Text Bold'">834 Fifth Avenue</span></strong><span style="letter-spacing: -0.15pt">, easily one of the three most lusted after apartment houses in New York City. According to two sources, the co-op is now very discreetly available through </span><strong><span style="letter-spacing: -0.15pt;font-family: 'Exchange Text Bold'">Sotheby’s</span></strong><span style="letter-spacing: -0.15pt"> broker </span><strong><span style="letter-spacing: -0.15pt;font-family: 'Exchange Text Bold'">Serena Boardman</span></strong><span style="letter-spacing: -0.15pt"> and </span><strong><span style="letter-spacing: -0.15pt;font-family: 'Exchange Text Bold'">Key-Ventures</span></strong><span style="letter-spacing: -0.15pt">’ </span><strong><span style="letter-spacing: -0.15pt;font-family: 'Exchange Text Bold'">A. Larry Kaiser IV</span></strong><span style="letter-spacing: -0.15pt">. The price is </span><strong><span style="letter-spacing: -0.15pt;font-family: 'Exchange Text Bold'">$60 million</span></strong><span style="letter-spacing: -0.15pt">. </span></p>
<p class="text"><span style="letter-spacing: -0.15pt">In October, the widowed philanthropist Courtney Sale Ross’ apartment at the similarly palatial 740 Park went on the market for “over $60 million,” according to <em>The Observer</em>. Both listings are being handled with a very proper kind of quietness: no open houses; no ads; no public photos; and no publicly available listings to ogle. </span></p>
<p class="text"><span style="letter-spacing: -0.15pt">Mr. Wexner, whose conglomerate owns, among other things, Victoria’s Secret, paid a reported $9 million for the fifth-floor duplex in 1997. His seller, an Italian named Eduarda Crociani, had wanted $12 million, but the sprawl was a fixer-upper. There wasn’t even air-conditioning in the summertime. “You almost gagged to death,” a source said. (Incidentally, Rupert Murdoch, who now has 834 Fifth Avenue’s penthouse triplex, owned the duplex years earlier.)</span></p>
<p class="text"><span style="letter-spacing: -0.15pt">Cooling aside, Mr. Wexner’s five-bedroom, 16-room apartment is meek compared to the yacht he built that same year (<em>Limitless</em> was once the longest in the world by 110 feet), or compared to the heated-sidewalk townhouse, or to the East 78th Street mansion his firm bought in 1985 for office space. He put it back on the market within a few years, though it finally sold for a reported $32 million in 2000. </span></p>
<p class="text"><span style="letter-spacing: -0.15pt">This January, Mr. Wexner’s wife, Abigail, bought a 3,480-square-foot apartment at 15 Central  Park West for $13.1 million. A source said the condo is for Ms. Wexner’s mother (wonderfully named Zipora “Zippy” Goldman Koppel); Ms. Wexner wanted to buy the unit above her mother’s so that the condos could be combined into a very big, very happy family duplex. But the windows in the higher unit turned out to be unsatisfactory. </span></p>
<p class="text"><span style="letter-spacing: -0.15pt">“It’s not the same view,” Ms. Wexner said, according to the source. </span></p>
<p class="text"><span style="letter-spacing: -0.25pt">But even if they’re not expanding at 15 Central Park West, the couple is willing to leave 834 Fifth, where their sprawl was apparently designed by </span><span style="letter-spacing: -0.15pt">Thierry Despont, Bill Gates’ decorator. “It’s a very traditional apartment; it has magnificent things in it and beautiful workmanship. What else can you say? It’s not chintzy,” the source said. “This is much more conservative, it’s like going into a grand Virginia home or an English men’s club in certain rooms.”</span></p>
<p class="text"><span style="letter-spacing: -0.1pt">Upstairs, there’s extra space taken from the next-door apartment, thanks to renovations that were done many years ago. Downstairs, among other things, is a corner living room facing the park. On the downside, no co-op has ever sold for over $50 million, and $60 million is very much a late-2007 price tag in early 2009. But Mr. Wexner isn’t a rushed seller. “They truly do not use it,” a broker who’s not connected to the duplex listing said. “It sits there in very mint condition.” </span></p>
<p class="text"><span style="letter-spacing: -0.15pt">Mr. Wexner and his two brokers would not comment.</span></p>
<p style="text-align: left" class="text" align="left"><em><span style="letter-spacing: -0.15pt">mabelson@observer.com</span></em></p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/transferswexner.jpg?w=300&h=199" />By January 1996, the billionaire <strong><span style="letter-spacing: -0.15pt;font-family: 'Exchange Text Bold'">Les Wexner</span></strong><span style="letter-spacing: -0.15pt"> hadn’t spent two months in his 21,000-square-foot stone mansion on East 71st Street, even though he had bought the place seven years earlier, his protégé Jeffrey Epstein told <em>The Times</em>. Never mind that it had been outfitted with a hidden lead-lined bathroom (with a closed-circuit TV) and a heated sidewalk to keep the mansion snow-free. Mr. Epstein, who has since become a billionaire as well, eventually moved into that mansion—because, of course, real estate is a terrible thing to waste. </span>
<p class="text"><span style="letter-spacing: -0.15pt">This week Mr. Wexner is doing something else with his family’s rarely used duplex at </span><strong><span style="letter-spacing: -0.15pt;font-family: 'Exchange Text Bold'">834 Fifth Avenue</span></strong><span style="letter-spacing: -0.15pt">, easily one of the three most lusted after apartment houses in New York City. According to two sources, the co-op is now very discreetly available through </span><strong><span style="letter-spacing: -0.15pt;font-family: 'Exchange Text Bold'">Sotheby’s</span></strong><span style="letter-spacing: -0.15pt"> broker </span><strong><span style="letter-spacing: -0.15pt;font-family: 'Exchange Text Bold'">Serena Boardman</span></strong><span style="letter-spacing: -0.15pt"> and </span><strong><span style="letter-spacing: -0.15pt;font-family: 'Exchange Text Bold'">Key-Ventures</span></strong><span style="letter-spacing: -0.15pt">’ </span><strong><span style="letter-spacing: -0.15pt;font-family: 'Exchange Text Bold'">A. Larry Kaiser IV</span></strong><span style="letter-spacing: -0.15pt">. The price is </span><strong><span style="letter-spacing: -0.15pt;font-family: 'Exchange Text Bold'">$60 million</span></strong><span style="letter-spacing: -0.15pt">. </span></p>
<p class="text"><span style="letter-spacing: -0.15pt">In October, the widowed philanthropist Courtney Sale Ross’ apartment at the similarly palatial 740 Park went on the market for “over $60 million,” according to <em>The Observer</em>. Both listings are being handled with a very proper kind of quietness: no open houses; no ads; no public photos; and no publicly available listings to ogle. </span></p>
<p class="text"><span style="letter-spacing: -0.15pt">Mr. Wexner, whose conglomerate owns, among other things, Victoria’s Secret, paid a reported $9 million for the fifth-floor duplex in 1997. His seller, an Italian named Eduarda Crociani, had wanted $12 million, but the sprawl was a fixer-upper. There wasn’t even air-conditioning in the summertime. “You almost gagged to death,” a source said. (Incidentally, Rupert Murdoch, who now has 834 Fifth Avenue’s penthouse triplex, owned the duplex years earlier.)</span></p>
<p class="text"><span style="letter-spacing: -0.15pt">Cooling aside, Mr. Wexner’s five-bedroom, 16-room apartment is meek compared to the yacht he built that same year (<em>Limitless</em> was once the longest in the world by 110 feet), or compared to the heated-sidewalk townhouse, or to the East 78th Street mansion his firm bought in 1985 for office space. He put it back on the market within a few years, though it finally sold for a reported $32 million in 2000. </span></p>
<p class="text"><span style="letter-spacing: -0.15pt">This January, Mr. Wexner’s wife, Abigail, bought a 3,480-square-foot apartment at 15 Central  Park West for $13.1 million. A source said the condo is for Ms. Wexner’s mother (wonderfully named Zipora “Zippy” Goldman Koppel); Ms. Wexner wanted to buy the unit above her mother’s so that the condos could be combined into a very big, very happy family duplex. But the windows in the higher unit turned out to be unsatisfactory. </span></p>
<p class="text"><span style="letter-spacing: -0.15pt">“It’s not the same view,” Ms. Wexner said, according to the source. </span></p>
<p class="text"><span style="letter-spacing: -0.25pt">But even if they’re not expanding at 15 Central Park West, the couple is willing to leave 834 Fifth, where their sprawl was apparently designed by </span><span style="letter-spacing: -0.15pt">Thierry Despont, Bill Gates’ decorator. “It’s a very traditional apartment; it has magnificent things in it and beautiful workmanship. What else can you say? It’s not chintzy,” the source said. “This is much more conservative, it’s like going into a grand Virginia home or an English men’s club in certain rooms.”</span></p>
<p class="text"><span style="letter-spacing: -0.1pt">Upstairs, there’s extra space taken from the next-door apartment, thanks to renovations that were done many years ago. Downstairs, among other things, is a corner living room facing the park. On the downside, no co-op has ever sold for over $50 million, and $60 million is very much a late-2007 price tag in early 2009. But Mr. Wexner isn’t a rushed seller. “They truly do not use it,” a broker who’s not connected to the duplex listing said. “It sits there in very mint condition.” </span></p>
<p class="text"><span style="letter-spacing: -0.15pt">Mr. Wexner and his two brokers would not comment.</span></p>
<p style="text-align: left" class="text" align="left"><em><span style="letter-spacing: -0.15pt">mabelson@observer.com</span></em></p>
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