Normally when you’re the scion of multi-billion-dollar global fashion enterprise like Ralph Lauren, you buy your luxury Manhattan real estate real estate under an LLC, so that the prying eyes of The Observer can’t write it up. But then again, if you’ve got a WASP-y image to uphold (and let’s face it, who needs that more than someone whose father was born with the name Ralph Lifshitz?), an Upper East Side co-op is the only way to go—and they don’t let you hide behind a shell corp.
Thus we came across Dylan Lauren and husband (as of 2011) Paul Arrouet’s names in city property records late yesterday afternoon, proud new owners of a 10th-floor co-op at 125 East 72nd Street.
A Park Avenue co-op may be the ultimate in old New York style, but what happens if you don’t want to (or can’t) put up with the hassles of proving yourself to a co-op board? For the paparazzi-tailed celebrities, Slavic-accented oligarchs and Gulf emirs among us, there’s always 737 Park Avenue.
And by the looks of the recent price increases at the stately 1940 apartment house at Park Avenue and East 71st Street, the celebs, oligarchs and emirs are desperately in need of accommodations. Developer Macklowe Properties just put the sponsor units on the market on January 11, but those prices didn’t even last three weeks before they were raised, according to StreetEasy. And it isn’t the first time that the developer has demanded more—Bloomberg News reported that Macklowe jacked up prices in the building twice last November. Then again, the price hikes could be a publicity ploy—in which case, it’s working! (As far as we can tell, nobody managed to scoop up an apartment before any of the recent price hikes.)