J. Crew CEO scores trophy Tribeca co-op after bidding war

June 04, 2012 01:00PM

J. Crew CEO Mickey Drexler has purchased a Tribeca co-op for more than its $13.5 million listing price, the New York Post reported, though the actual price paid is unclear. Located at 140 Franklin Street at Varick Street inside a landmarked Romanesque revival building, the home was on the market for about one week and was the subject of a bidding war.

The 6,226-square-foot home, unit 5BC, has five bedrooms and 4.5 bathrooms. Richard Orenstein at Halstead Property had the listing, according to Streeteasy.com. The home has a media room, a 150-bottle wine cave and a library, according to the listing. Called a “virtual mansion-in-the-sky” on the listing, the home encompasses a full floor of the building.

Phillip Riese, who formed Riese & Others, a private equity and venture capital adviser and co-investor firm, was the seller of the home. He purchased it with his wife in 2000 for $4.55 million.

As The Real Deal recently reported, Jenna Lyons, J. Crew’s creative director, sold her Park Slope home. [Post]