search

The Real Deal Logo

Trending

Glossier founder is buyer of $22M Brooklyn townhouseGlossier founder is buyer of $22M Brooklyn townhouseDevelopers have a new tax break. Now they must figure it outDevelopers have a new tax break. Now they must figure it outMichael Stern pays $61M for Brickell site of Dolce & Gabbana supertallMichael Stern pays $61M for Brickell site of Dolce & Gabbana supertallBillionaire hedge funder Larry Robbins makes South Florida moveBillionaire hedge funder Larry Robbins makes South Florida move
Residential
New York

Billionaire Ron Burkle selling Noho penthouse

Duplex unit at 704 Broadway listed for $32M

Ron Burkle and 704 Broadway (Modlin Group, Hugoatyugo/CC BY-SA 3.0/via Wikimedia Commons)
Ron Burkle and 704 Broadway (Modlin Group, Hugoatyugo/CC BY-SA 3.0/via Wikimedia Commons)

Billionaire Ron Burkle is taking another stab at trading his penthouse at 704 Broadway.

The Yucaipa Companies co-founder put his Noho home on the market on Thursday, Crain’s reported. The duplex penthouse is being marketed for $32.5 million, roughly $4,062 per interior square foot. Burkle purchased the unit in 2007 for $18 million.

The home, located in a former hat factory and stretching across two floors, spans 8,000 square feet with five bedrooms and six bathrooms. There are three terraces, including one with a hot tub and one with a 25-foot pool that appeared in an episode of “Sex and the City.”

The apartment was also formerly the site of Sky Studios, where Jerry and Jessica Seinfeld married in 1999. L Capital Partners co-founder Jonathan Leitersdorf bought the building in 1995 and shacked up in the penthouse at one point while converting the property to condos.

Adam Modlin of the Modlin Group has the listing.

Sign Up for the undefined Newsletter

This isn’t the first time Burkle has tried unloading the home. Burkle listed the pad in 2015 for $37 million, but failed to get a bite. The latest listing is a 12 percent discount from the previous listing.

Read more

Burkle owns a controlling stake in Soho House, a popular membership club that has struggled in the wake of the pandemic. Membership Collective, the club’s parent company, revealed last month that revenue would be off by about $40 million this year. Burkle’s fortune comes in part from leveraged buyouts of supermarket chains like Ralph’s and Fresh & Easy.

In March, the investor and bought a nearly century-old beachside cottage in Malibu for $13.5 million. The Los Angeles native has collected other unique real estate properties in California, including the Bob Hope mansion in Palm Springs and the comedian’s estate in Toluca Lake, which Burkle saved from demolition.

Other real estate properties Burkle has bought include Michael Jackson’s Neverland Ranch ear Santa Barbara, silent-screen actor Harry Lloyd’s Greenacres estate in Beverly Hills and a massive estate overlooking Black’s Beach in La Jolla.

— Holden Walter-Warner

Tags
Luxury Real EstateNohoRon Burkle