search

The Real Deal Logo

Trending

Developers have a new tax break. Now they must figure it outDevelopers have a new tax break. Now they must figure it outBrookfield’s deal to sell 777 Tower in Downtown LA collapsesBrookfield’s deal to sell 777 Tower in Downtown LA collapsesHousing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsBushburg buying Rudin’s half-empty FiDi office building for $160MBushburg buying Rudin’s half-empty FiDi office building for $160M
Residential
New York

This power couple just dropped $35M on a West Village penthouse

Stephanie March, Dan Benton to combine two units to create 5-bed duplex

Dan Benton, Stephanie March and the Shephard (Credit: Getty Images and Naftali Group)
Dan Benton, Stephanie March and the Shephard (Credit: Getty Images and Naftali Group)

Actress Stephanie March and her businessman husband Daniel Benton dropped $35 million on the penthouse at the Shephard in the West Village.

The power couple plans to combine two units at the newly converted building, according to the Wall Street Journal, creating a five-bedroom duplex spanning 6,836 square feet, with an additional 3,451 square feet of outdoor space.

March is a former “Law & Order: SVU” star, and married Benton, a hedge fund manager and tech investor, in September, according to the Journal. Benton still owns a penthouse on the Upper East Side together with his ex-wife, which cost him $39 million in 2012.

Sign Up for the undefined Newsletter

The neighborhood holds special meaning for the couple. According to People magazine, March and Benton met around the corner from their new digs, over cocktails at the Orient Express on West 11th Street.

The 12-story Shephard at 275 West 10th Street, was built in 1897, and began its life as a warehouse until it was reincarnated as a rental. Most recently, the Naftali Group and Starwood Capital converted the 145 rental units to 38 condos, retaining its brick facade. The developers bought the building for $68 million in 2014. Stribling & Associates’ Alexa Lambert is overseeing sales at the building.

Three rent-stabilized tenants at the $352 million conversion sued the developer in June, claiming Miki Naftali’s firm refused to pay rent credits he promised them during construction.
[WSJ] – Chava Gourarie