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
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.