From Cookies to Clay: Chatham Buyers Hungry for High Floor Pay $500K Over Ask

In 1977, 12-year-old Kimberley Rawlings suggested the name Otis Spunkmeyer for her parents’ nascent cookie business. The name stuck and so did the cookies—not to the baking tray—but to American appetites, growing from a single store in Oakland, Calif., into the No. 1 frozen cookie dough manufacturer in the U.S., currently providing baked goods to over 100,000 wholesale customers, including American Airlines and the U.S. Military (and you wondered why the defense budget was so high).

Founded by Kimberley’s parents Kenneth and Linda Rawlings, the company’s success largely hinged on the move from retailer to wholesaler and Mr. Rawlings’ revolutionary approach to marketing frozen cookie dough to wholesale customers. Unlike competitors, Mr. and Ms. Rawlings’ frozen cookie dough shipments included the loan of a pre-set temperature oven, pre-sliced cookie dough and brand marketing materials to fuel impulse cookie purchasing.

This move from retailer to wholesaler took place in the mid-1980s. According to city records, Ms. Rawlings is making another move, selling her high-floor three-bedroom at tony Upper East Side condominium The Chatham for $6.3 million to Jules Jergensen watch heirs, Roberta and Deborah Clayman.

The apartment, which was only on the market for 17 days according to the Web site Streeteasy, was listed at $5.75 million, over half a million dollars less than the recorded payment price. Certainly high-floor units at the swank Robert A.M. Stern-designed, amenity-rich condominium building are rare and quickly coveted, but does this $500,000 price jump spell bidding war? Unfortunately, we may never know, considering that Brown Harris Stevens‘ listing agent Mike Lubin and the buyer’s agent, Prudential Douglas Elliman‘s Doreen Courtright, both declined to comment for the article.

Roberta and Deborah Clayman, widow and daughter, respectively, of Morton Clayman, longtime owner of the Jules Jergensen watch company, will be able to enjoy citywide views through “oversized picture windows” as well as “soaring” ceilings, individually climate controlled rooms and “multiple” walk-in closets. Oh, how Carrie Bradshaw would be jealous, but I guess that’s just the way the cookie crumbles.

cmalle@observer.com

From Cookies to Clay: Chatham Buyers Hungry for High Floor Pay $500K Over Ask