Former head of Kohl’s takes 50 UN Plaza PH

Jay Baker, and his wife Pat, will move in alongside the U.N. diplomatic missions of the U.S. and U.K. at the building

New York /
Jun.June 20, 2019 08:00 AM
Jay and Patty Baker, 50 United Nations Plaza (inset) and the interior of Penthouse 39 (Credit: Getty Images)

Jay and Patty Baker, 50 United Nations Plaza (inset) and the interior of Penthouse 39 (Credit: Getty Images)

The top floors of 50 United Nations have in recent months been sold to diplomatic missions. Now, they’ll have to make room for a different kind of resident.

Jay Baker, the former head of department store Kohl’s, and his wife Pat have purchased a penthouse in the Turtle Bay building on the 39th floor for $16 million, according to property records filed Wednesday. At that price, the 5,893-square-foot space pencils out to $2,715 a square foot. The unit sold at a steep discount after it was initially listed for $26 million, according to Streeteasy.

The pair now resides a floor above the United Kingdom’s diplomatic mission to the United Nations, which purchased the “penthouse” on the 38th floor in March for $16 million. A floor below is the United States’ own mission to the United Nations, which the government purchased earlier this month for $15.85 million.

Each of those units also sold at a similar discount from their initial listing prices.

The 43-story building was developed by Zeckendorf Development and Global Holdings and is adjacent to the U.N. Secretariat Building. It houses other diplomatic missions, including New Zealand.

For the past 20 years, Baker and his wife have donated millions of dollars to retail and fashion education causes. He previously worked as chief executive and president of Kohl’s from 1986 — when he purchased the retailer with two partners — and oversaw its initial public offering in 1992 before he retired from the company in 1999.


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)
For 15 years, David Koch lived at the world’s “richest building”
For 15 years, David Koch lived at the world’s “richest building”
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Steven Mnuchin and 740 Park Avenue (Getty, Google Maps)
Steven Mnuchin’s $26M home finally finds a buyer
Steven Mnuchin’s $26M home finally finds a buyer
The Penthouse at 60 Broadway in Williamsburg. (Compass)
Brooklyn sees 41 luxury deals inked last week
Brooklyn sees 41 luxury deals inked last week
FiDi condo supply is through the roof as workers delay office return. (Getty)
FiDi condo glut is through the roof
FiDi condo glut is through the roof
168 Plymouth Street (Alloy)
Brooklyn nets $125M in signed luxury contracts
Brooklyn nets $125M in signed luxury contracts
A rendering of One Boerum Place with Avery Hall Investments' Avi Fisher (top) and Brian Ezra (SLCE Architects, Avery Hall Investments)
Shifting gears: Brooklyn condo tower to debut as rental
Shifting gears: Brooklyn condo tower to debut as rental
arrow_forward_ios

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

Loading...