Tiffany designer trades townhouse for $36M after two price cuts

Reed Krakoff’s renovated Lenox Hill home sold $12M under ask

Reed and Delphine Krakoff along with 54 East 64th Street (Getty, Google Maps)
Reed and Delphine Krakoff along with 54 East 64th Street (Getty, Google Maps)

A designer known for his work with Tiffany & Co. and Coach shaved off $6 million — again — from the asking price of his Lenox Hill townhouse to close the sale.

Reed Krakoff and his wife Delphine sold their six-story home at 54 East 64th Street for $36 million after more than a year on the market, according to property records. The buyer, whose identity is hidden behind an LLC, closed on the property earlier this week.

Krakoff, chief artistic officer at Tiffany & Co., and Delphine, an interior decorator, originally listed the six-bedroom home for $48 million in November 2021, before lowering the asking price in May.

The couple paid $28 million fo the 12,500-square-foot property, designed by Flagg and Chambers, in 2014 for and soon began a gut renovation.

The detailed revamp included a central staircase with a nickel handrail, handmade in Paris to resemble a sculpture. The library/dining room has antique French oak floorboards from a Parisien hotel and the kitchen has 18th century marble from the Loire Valley in central France.

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Four of the six bedrooms are on the fourth floor and the primary suite is on the fifth. The sixth floor has a sitting room with a decorative fireplace and a south-facing terrace.

Serena Boardman of Sotheby’s International and Brown Harris Stevens’ Paula Del Nunzio had the co-exclusive listing.

Krakoff rose to prominence in the fashion industry as the creative director at Coach. He left in 2013 to start an eponymous label that folded two years later, before joining Tiffany in 2017.

The rest of the couple’s real estate portfolio includes a $14 million Connecticut mansion and the $24 million childhood home of Jackie Onassis in East Hampton.

Manhattan’s luxury market got off to a hot start last year before finishing with a whimper. Rising mortgage rates and a declining stock market caused a 44 percent decline in signed contracts.

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