The Real Deal New York

Larry Gagosian closes on Harkness Mansion for $36.5M

August 18, 2011 09:55AM

High-profile art mogul Larry Gagosian has just closed on the Harkness Mansion, the more than 20,000-square-foot townhouse at 4 East 75th Street, for $36.5 million, the New York Post reported.

J. Christopher Flowers, the private equity magnate who, in 2006, logged the city’s priciest residential transaction ever with his $53 million purchase of the property, got serious about his search for a buyer for the townhouse in the wake of a separation from his wife last year.

In 2009, it was reported that Flowers, who had already put more than $4 million worth of renovations into the 114-year-old, 50-foot-wide mansion, wanted around $50 million for the home. Flowers bought the home from banking heir Jacqui Safra, who used to produce Woody Allen movies. [Post, 1st item]