The Real Deal New York

Billionaire Peter Brant pays $27M for Walter De Maria’s East Village home-studio

Late sculptor lived at 421 East 6th St. for 33 years
By Hiten Samtani | August 11, 2014 04:57PM

Billionaire businessman Peter M. Brant just paid $27 million for the late Walter De Maria’s East Village home and studio, according to property records filed with the city today. The four-story property, where the noted sculptor lived and worked from 1980 till his death last year, was asking $25 million.

The 16,402-square-foot, five-bedroom building is located at 421 East 6th Street near Tompkins Square Park. It was originally built as a Consolidated Edison substation in 1920, and retains several interior fixtures from that era, including a through-floor pulley system and multi-story windows.

Cushman & Wakefield’s Helen Hwang had the listing. The broker couldn’t immediately be reached for comment. Also included in the deal is an empty lot at 419 East 6th Street.

Brant, an art buff and avid collector who was once dubbed a “Donald Trump with taste” by the New York Times, is the publisher of both Interview and Art in America magazines. He is married to supermodel Stephanie Seymour. EVGrieve reported in May that the Brant Foundation was rumored to be in contract for the property and would likely use it as an art exhibition space.