Banker-turned-developer cashes in at 173 Perry Street

TRD New York /
Aug.August 03, 2011 05:20 PM

173 Perry Street and the interior of Jacobson’s apartment

Seven years after buying two floors of the Richard Meier-designed 173 Perry Street condominium for bargain prices amidst construction concerns, Keith Jacobson cashed in. The New York Observer reported that public records filed yesterday show the combined apartment sold for $10.5 million last month, $5.78 million more than the $4.72 million he paid for the sixth and seventh floors.

Jacobson, a former investment banker who became a developer, according to the Observer, acquired the units completely empty, and furnished them entirely himself. He had put the home on the market for $12.5 million in 2008 with Robby Browne, Chris Kann and Gregory Sullivan of the Corcoran Group, but it’s been off the market since then. Jackson decided to sell the 3,500-square-foot apartment because it was too large, according to a 2008 article in the New York Times.

Earlier this summer, the penthouse of the building, which formerly belonged to Martha Stewart and was featured on “Open House New York,” sold for $11.8 million. [NYO]

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