The Real Deal New York

Daphne Guinness sells Stanhope apartment at loss

November 30, 2012 05:45PM
By Katherine Clarke

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Daphne Guinness and the interior of the Stanhope spread

Beer heiress and fashion muse Daphne Guinness has finally found a buyer for her four-bedroom apartment at the former Stanhope hotel, just two months after she settled a lawsuit with her neighbors at the building, The Real Deal has learned.

The deal for the 4,118-square-foot spread closed earlier this month for $11.3 million, listing broker Daniel Neiditch of River2River Realty said today. That represents a loss for Guinness, who bought the apartment for $11.73 million in 2008. While the identity of the buyer was not immediately clear, Neiditch said the person was not well-known. The deal has not yet hit public records.

The 995 Fifth Avenue residence has been on the market since January, when it was initially listed by Ron Teitelbaum of Ron Teitelbaum Properties. The listing was taken down in late May after Teitelbaum’s six-month exclusive expired, and relisted shortly after by Neiditch for $14 million. After several price cuts, the final asking price was $11.5 million.

The home features views of the Metropolitan Museum of Art and Central Park and comes with access to Stanhope amenities, such as a health and fitness spa. Unfortunately for owners in the building, the land under the property is not owned by sponsor Extell Development and is therefore subject to a 150-year land lease, making the property slightly less attractive to buyers.

Neiditch said the land lease was not an issue: “The land lease has over 100 years left so really didn’t come into play here,” he said.

Guinness found herself in hot water with her neighbors after her overflowing bathtub caused damage to their apartments on three separate occasions. A judge ruled in September that Guinness would have to pay for the damages but did not have to cough up an additional $1 million for her neighbors’ alleged emotional distress.

In a statement to the Post about the incident, Guiness said: “All I have ever wanted is to make amends and make this right. I’ve always been happy to pay for their damage, and have already been doing so. I would never intentionally flood their apartment. I by no means want to be a bad neighbor.”

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