PayPal president and CEO Daniel Schulman helped kick off the year for the Soho condo market with a purchase closed last month.
Schulman paid $8.6 million for a 4,600-square-foot condo in The Loft at 30 Crosby Street, property records show. The three-bed, three-bathroom apartment has brick walls, a 13-foot wood beam ceiling and a library with custom floor-to-ceiling bookshelves.
The unit spent 216 days on the market, according to Streeteasy. TRD research shows Schulman’s purchase is the most expensive of Soho’s five condo sales so far this year.
The information listed for Schulman on the deed for the unit matches the Palo Alto address used in a recent public filing for the fintech company. Serena Boardman of Sotheby’s International, who had the listing, declined a request for comment.
The seven-story Soho building was built in 1890 as a corset factory. Landmark Development, with assist from architect Joseph Pell Lombardi, converted the building in 2000.
The property emerged as a celebrity favorite, counting Courtney Love, Lenny Kravitz and Alicia Keys among its notable residents. In 2014, 6sqft reported its clientele had since shifted to housing “everyday millionaires.”
The amenities at 30 Crosby include a wine cellar and tasting room, a bamboo garden and entertainment room, according to Streeteasy.
The neighborhood made headlines in early January when Mary Trump paid $7 million for a Broome Street condo. The deal came nearly two years after she released a family tell-all during former President Donald Trump’s administration.
PayPal was among the companies that appeared to benefit from a swell in online transactions during the pandemic when e-commerce boomed and large retailers accelerated services like curbside pickup and delivery.
The fintech giant only missed earnings expectations in the fourth quarter for the first time last year but marked annual revenue growth in the period.