Retired apparel designer sells Manhattan penthouse for big gain

Andrew Rosen sold the penthouse at the Greenwich Lane complex for $18.5M after paying $13M in 2012

TRD New York /
Jun.June 22, 2019 02:00 PM
Andrew Rosen and interior shots of his apartment at 130 West 12th Street (Credit: Getty Images)

Andrew Rosen and interior shots of his penthouse at 130 West 12th Street (Credit: Getty Images)

Designer Andrew Rosen sold his Manhattan home for $18.5 million after quitting his job as CEO of the apparel company Theory in April.

Rosen sold the Greenwich Village penthouse for 42 percent more than the $13 million he paid in 2012, but less than the $21.5 million he listed it for in September 2018.

The gain on the sale to Long Light Capital financier Justin Korsant stemmed from the overall rise in luxury Manhattan prices over the past seven years, as well as a major renovation, which Rosen’s interior designer wife Jenny Dyer likely directed, according to Women’s Wear Daily.

The apartment has terraces connected to all eight of its rooms and tall hornbeam trees make the terrace off the master suite a “private outdoor room,” according to the listing. Interior features include a gym and a wood-burning fireplace in the living room.

The penthouse is part of the upscale Greenwich Lane, a five-building complex of condos and townhouses where the old St. Vincent’s Hospital was located. Other Greenwich Lane residents include Michael Kors, British fashion entrepreneur Tamara Mellon and German model Toni Garrn.

While its unclear whether Rosen is hunting for another Manhattan residence, he’s far from homeless. The retired CEO owns a house in Southampton and a condo at the Four Seasons Residences at the Surf Club Miami, which he bought for $5 million in 2017.

Rosen, who was succeeded by Theory’s chief operating officer, Dinesh Tandon, will continue working with the apparel company as an adviser. A spokesman for Rosen did not immediately respond to a request for comment.

Rosen’s listing agent was Leonard Steinberg of Compass. Another Compass agent, Brett Mitchell, represented Korsant in his purchase of the Greenwich penthouse. [] – Mike Seemuth

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