Versace’s Former Townhouse Listed for $70M

Gianni Versace and 5 East 64th Street in Manhattan (Sotheby’s International Realty, Getty Images)

Gianni Versace and 5 East sixty fourth Road in Manhattan (Sotheby’s Worldwide Realty, Getty Pictures)

Gianni Versace was killed 25 years in the past, however his legacy lives on at an Higher East Facet townhouse asking $70 million.

Hedge fund supervisor Thomas Sandell and his spouse, Ximena, listed the late designer’s mansion at 5 East sixty fourth Road, the Wall Road Journal reported. They bought the house in 2005 for $30 million from the household of Versace, who had purchased it for $7.5 million in 1995.

The house, half a block from Central Park, stands six tales tall and encompasses greater than 14,000 sq. ft. The underside 4 flooring retain a lot of Versace’s imaginative and prescient, whereas the higher two have been redesigned to incorporate a media room and a recreation room. A rear balcony overlooks a backyard.

The Italian Baroque-style residence additionally features a roof deck with a gazebo and could possibly be configured to incorporate as much as 9 bedrooms. Sotheby Worldwide Realty’s Nikki Area is co-listing the property along with her daughter, Amanda Field Jordan.

Area informed the publication that the house will “be purchased by someone who has that same reverence” for the property because the Sandells.

The property has been marketed as a rental lately, asking for as a lot as $100,000 monthly. Not everybody has had a fantastic expertise being a tenant at Versace’s former residence, although.

In 2018, developer Joseph Chetrit sued the hedge fund billionaire, alleging quite a lot of issues on the townhouse, together with blocked sewage and a “raging” rodent infestation. The lawsuit accused Sandell of hiding the house’s points from Chetrit, who was in search of not less than $1 million in damages along with hire credit score.

Area mentioned the lawsuit was “amicably resolved.”

Sandell can also be seeking to promote some property within the Hamptons. The previous head of now-defunct Sandell Asset Administration listed 10 acres of land on Meadow Lane in Southampton for a modest $75 million.

[WSJ] — Holden Walter-Warner

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