The Real Deal New York

LeFrak heiress loses 16% on new condo sale

May 29, 2009 06:15PM
By Adam Pincus

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The daughter of the late Queens real estate tycoon Samuel LeFrak sold an Upper East Side two-bedroom condominium for a loss after owning the apartment for less than half a year.

Real estate heiress and author Denise LeFrak, who paid $2.55 million in December for the 1,576-square-foot apartment on the 11th floor of a new building at 255 East 74th Street, sold it this month for $2.14 million, a reduction of 16 percent.

LeFrak went into contract on the sale to Daniel Brockett, a partner at litigation firm Quinn Emanuel, in April and closed May 14, according to city property records published today.

She bought the sponsor unit in the 30-story tower at the corner of Second Avenue developed by the World-Wide Group.

“I wanted to get a better price but I couldn’t,” said Brockett, who does not know LeFrak. “The reality is the market has dropped a lot,” he added.

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