The Real Deal New York

Designer Stefano Gabbana passes on $60M Mark Hotel penthouse

The mogul is continuing to hunt above 57th Street for a ritzy retreat

August 10, 2014 05:00PM

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The penthouse at the Mark and Dolce and Gabbana

The penthouse at the Mark and Dolce and Gabbana

Fashion mogul Stefano Gabbana is still on the prowl for a new apartment far away from his former design partner Domenico Dolce’s Chelsea abode. Most recently, Gabbana was close to reaching a deal for the $60 million penthouse at the Mark Hotel.

Sources told the New York Post that the designer decided against the purchase because of a land lease issue that made the transaction overly complicated. Gabbana is reportedly only looking above 57th Street, so he can be far away from his partner, Dolce, who lives in Chelsea’s Sky Garage tower – he paid $29 million for that property in 2009.

“Stefano has been searching for an apartment in New York this year,” the source said. “He was looking at apartments in the range of $60 million, but nothing south of 57th Street.”

Before having a falling out the billionaire design duo landed in hot water in Italy for allegedly dodging $1.38 billion in taxes. [NYP]Christopher Cameron

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