The Real Deal New York

Kate Spade CEO bags Sterling Mason pad for $5M

Craig Leavitt recently sold Chelsea Mercantile unit for $2.35M
August 06, 2015 05:30PM

The new owner of a three-bedroom apartment at the Sterling Mason should have no problem accessorizing — the buyer is Kate Spade CEO Craig Leavitt, who dropped $5.2 million for the Tribeca pad.

Leavitt recently left the star-studded Chelsea Mercantile, at 252 Seventh Avenue between West 24th and West 25th streets, having sold his one-bedroom unit at the building for $2.35 million earlier this year.

The Sterling Mason, developed by Taconic Investment Partners, at 71 Laight Street, is a conversion of an old masonry warehouse. Celebrities like Jennifer Lawrence have eyed the development, which features a library, interior courtyard, fitness room and parking garage, according to the New York Daily News.

Leavitt’s company has enjoyed a healthy year, with Kate Spade sales growing 5.7 percent in the second quarter and its stock up 3.8 percent on Wednesday. [NYDN] — Rey Mashayekhi