The Real Deal New York

Design Within Reach CEO’s $25K/month Chelsea penthouse: PHOTOS

February 18, 2013 03:45PM
By Guelda Voien

The CEO of Design Within Reach, the high-end furniture purveyor, has his Chelsea penthouse on the market — but it’s not within everyone’s reach. John Edelman and his wife, Bonnie, listed the bespoke condominium for $5.5 million this past November, and are also offering the place for rent for $25,000 per month, according to Streeteasy.com.

The three-bedroom, three-bathroom top-floor unit at 150 West 26th Street, which the New York Times has called “emphatically unusual,” also saw its asking sale price chopped by $500,000 about six weeks ago, according to Streeteasy.

Ari Harkov and Warner Lewis of Halstead Property have both the sale and rental listing. The unit had previously been listed as a rental, and Streeteasy shows that it was taken off the market in December after the couple reportedly decided to sell the home, then returned to the market on Saturday. However, a spokesperson for Halstead said the apartment had always been available as a rental.

Edelman reportedly customized every aspect of the 2,000-square foot home. Features include built-in appliances, such as a television and an espresso maker, as well as chandeliers originally designed for the Metropolitan Opera.

The apartment also includes bountiful outdoor space — 3,000 square feet spread across three terraces, which feature a barbecue and an outdoor shower.

The couple has a primary residence in Connecticut, where Design Within Reach has its corporate headquarters. Edelman was named CEO in 2009, according to reports. Previously, he ran a luxury upholstery company called Edelman Leather.

When the apartment was solely for sale, the furniture within was also available for an undisclosed additional fee, per the Times. Edelman has described himself as a “hoarder of furniture.” Presumably, the well-appointed furnishings come with the rental as well.

The West 26th Street building, between Sixth and Seventh avenues, was converted to lofts from industrial use in 2002, as reported.

Harkov and Lewis were not immediately available for comment.

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