Billionaire Leon Black buying Christian Candy’s $50M home

London developer bought the former Knoedler Gallery on East 70th Street for $35M last year

New York /
Aug.August 14, 2014 09:00 AM

Private equity fund giant Leon Black and his wife Debra are buying an Upper East Side townhouse for $50 million.

Black and his wife, Who Is A Broadway producer as well as co-founder and chairman of the board at the Melanoma Research Alliance, are reportedly buying the former Knoedler & Company art gallery, which closed after a scandal in 2009.

The 17,000-square-foot Italian Renaissance-style home at 19 East 70th Street last traded hands when London developer Christian Candy bought it for $35 million in 2013. Even though Candy got the permits to renovate the house, he put it back on the market for $55 million earlier this year.

The 104-year-old building is said to be in need of more than $20 million worth of renovations. Black, a leveraged buyout specialist, co-founded M&A firm Apollo Global Management in 1990. [NYP, 1st] — Claire Moses


Related Articles

arrow_forward_ios
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
HFZ's Ziel Feldman (The XI)
HFZ set to lose stake in $2B XI condo project
HFZ set to lose stake in $2B XI condo project
What tenants pay at Aby Rosen’s 980 Madison Avenue
What tenants pay at Aby Rosen’s 980 Madison Avenue
What tenants pay at Aby Rosen’s 980 Madison Avenue
(Illustration by Alexis Manrodt for The Real Deal)
The Real Deal’s Prodigy exposé wins NY Press Club Award
The Real Deal’s Prodigy exposé wins NY Press Club Award
The penthouse in Lightstone's 40 East End was the most expensive contract, with developer David Edelstein of TriStar Capital selling the second priciest (Lightstone, Getty)
After early-July lull, Manhattan luxury deals are on the upswing again
After early-July lull, Manhattan luxury deals are on the upswing again
Brad Inman and Beringer Capital's Perry Miele (Inman, Beringer)
Inman acquired by private equity firm Beringer Capital
Inman acquired by private equity firm Beringer Capital
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...