The Real Deal New York

Early McDonald’s franchisee sells two 1185 Park units for $17M

Irwin S. Kruger owned the apartment for more than two decades
By Christian Bautista | September 14, 2018 07:19PM

1185 Park Avenue

Early McDonald’s franchisee Irwin S. Kruger sold two units at 1185 Park Avenue for $17.3 million.

Sharon Davis, the founder and principal of West Village-based firm Sharon Davis Design, bought the four-bedroom, four-and-a-half-bathroom penthouse for $15.8 million, according to property records. It contains a family room with a billiards table, private elevator landing and a wrap-around terrace. Halstead Property’s Louise Philip Forbes, the broker for the property, confirmed the identity of the buyer.

Kruger first listed the property last year for $18.5 million. He took it off the market on Dec. 3 and re-listed it a week later with the same asking price. At the time, he reportedly tacked on Unit 1B, a six-room office unit at the first floor, as a bonus to the listing. Dona Kruger, whose address was listed as Kruger’s penthouse, sold the unit to Davis for $1.5 million.

The sales end Kruger’s more than two decades of residency in the building. It’s unclear when he bought the units. However, he has been listed as the owner of 4,500-square-foot penthouse since 1992, property records show.

Kruger is credited for introducing the McDonald’s franchise to Manhattan in 1973. His portfolio of McDonald’s locations include the three-story location in Times Square. Kruger has since expanded from owning McDonald’s franchises. He is the owner of ISK Systems, the fast food franchise operator that brought Smashburger to Manhattan.