Estée Lauder chairman buys former Revlon owner’s UES co-op
William Lauder paid $25M for 12th-floor unit at 778 Park Avenue
A co-op sale on the Upper East Side was between two top names in makeup.
The executive chairman of Estée Lauder, William Lauder, bought a unit at 778 Park Avenue from billionaire investor and former Revlon owner Ron Perelman for $25 million in an off-market deal, according to public records.
The estate of Perelman’s late wife, noted Page Six columnist Claudia Cohen is also listed as a seller of the 12th-floor unit. Before her death in 2007, Cohen and her daughter with Perelman, Samantha Perelman, lived in the apartment, which Perelman bought for $8 million in 1994.
Perelman first listed the property for $27.9 million in October 2020 and pulled it off the market a year later. At the time, Douglas Elliman’s Steven Cohen had the listing.
The five-bedroom, five-bathroom apartment features 11-foot ceilings, a private elevator landing, oversized windows overlooking Park Avenue and wood-paneled library. The 5,500-square-foot apartment also includes a staff wing with a laundry room, staff dining room and four maid’s rooms.
Built in 1931 and designed by Rosario Candela, the prewar co-op includes 18 units and advertises white-glove service.
The apartment’s sale is the latest in a long list of properties offloaded by the head of MacAndrews & Forbes, whose portfolio was hit hard by the pandemic. A federal judge ruled in April to pull Revlon out of bankruptcy without Perelman, its leader of 40 years, at the helm.
Perelman has sold off multiple assets to settle debts, including jet planes, yachts and some of his art collection. He’s also searching for a buyer for his 16,000-square-foot townhouse in Lenox Hill, which listed for $60 million in April.
In 2019, Lauder listed his 14th-floor apartment in the building for $45 million and pulled it off the market two years later after lowering the asking price to $39 million. Lauder, whose grandparents founded the international cosmetic’s company, bought the apartment for $27.5 million in 2007.
Lauder has also been trading properties in Palm Beach, including purchasing Rush Limbaugh’s 2.7-acre estate for $155 million in March. The move came just a few days after Lauder listed two adjacent, vacant parcels on the ocean for $200 million.