Elie Tahari wants a development partner for his pet penthouse project

Elie Tahari wants a development partner for his pet penthouse project

Jan.January 22, 2018 11:47 AM

860 Fifth Avenue and Elie Tahari (Credit: Getty Images)

Designer Elie Tahari has spent 12 years lining up permits to expand his penthouse at 860 Fifth Avenue, and now he’s looking for an investor to join the project for $35 million.

The fashion guru has finally secured permission from the city’s Landmarks Preservation Commission and the Department of Buildings, and just started construction on the project, reported the Wall Street Journal. Once completed, the designer and his partner plan to sell the penthouse or one would buy out the other’s interest.

Tahari tapped CookFox Architects to design the glassy addition, which will give the penthouse a total of 7,500 square feet, plus 5,500 square feet of terrace space. “It’s almost like you’re dropping an Apple store on a co-op building on the Upper East Side,” said Town Residential’s Benjamin Benalloul, who is representing the offering with Loretta Shanahan-Bradbury and Victoria Terri-Cote.

Plans call for a master suite on the top level, as well as an outdoor kitchen for entertaining on the roof deck.

The designer bought his first apartment for $325,000 in 1979. He paid another $4.2 million for a neighboring unit in 2011. Tahari, who owns a $25 million condo at 15 Central Park West, recently listed his Hamptons estate for $45 million . [WSJ]E.B. Solomont

Related Articles

From left: Milos Raonic, Venus Williams, Serena Williams and Novak Djokovic (Credit: Getty Images)

Luxury real estate anyone? US Open stars and their palatial pads

With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

Lena Dunham and 60 Broadway (Credit: Getty Images)

Lena Dunham’s “massive real estate mistake”

Commercial loans expected to suffer because of the pandemic (Credit: iStock)

March saw fewer CMBS delinquencies. That is likely to change: Fitch

TRD Talks Live

Watch tonight: Turning to tech on TRD Talks Live

(Credit: iStock)

Thousands of CRE borrowers call on banks for debt relief

Banks, funds, mortgage REITs, and agencies like Fannie Mae and Freddie Mac have all begun adjusting their lending approach in face of the economic downturn (Credit: iStock)

These are the sectors where real estate lending is still happening: report

(Credit: iStock)

Strong quarter for Manhattan home sales belies current struggle