It’s been a busy month for ex-J. Crew chief executive officer Millard “Mickey” Drexler in the real estate world.
Fresh from selling his Hamptons beach house, the retailer, who still serves as the fashion chain’s chairman, has just waved goodbye to one of his Manhattan homes to the tune of $19 million.
The property in question is a TriBeCa loft apartment, which was last asking $19.95 million, a huge discount from the $35 million it was listed for in 2015.
The five-bedroom apartment is housed in a 12-unit Franklin Street condominium, which has a 24-hour doorman and is down the block from the pad Taylor Swift calls home when she’s in town.
Since paying $14.3 million for the 6,226-square-foot spread in 2012, he has certainly put his own touch on it, hiring renowned French architect Thierry Despont to do the interiors.
The results are arched windows, original columns, industrial doors, an open stainless-steel kitchen with a breakfast bar, brightly colored living spaces, a gallery hall complete with dress forms and even a billiards room.
Drexler was until recently also trying to sell a TriBeCa town house, which he listed for less than $30 million and later cut to $27.5 million. Interiors of the town house, which started life as a coffee roasting plant and was once home to Andy Warhol, were also by Despont.
This comes after he sold his secluded Hamptons beach house last week for $15 million after four years on and off the market. That was less than both the last asking price of $17.95 million and the $17 million the retail executive paid for it in 2008.
And while he has been downsizing his New York property empire, he has been expanding his Miami one. In January, he spent just a touch under $14 million on a plot of land next door to the five-bedroom house he bought from Calvin Klein for $12.85 million last year.