105 East 29th Street 7th Floor


Investment Strategy:
Sometimes an opportunity transforms beyond the fundamentals and naturally evolves. This was one of those unique opportunities and FORBES did a much more eloquent job than we could ever do describing a real estate project we had the privilege of owning and creating a custom home for a unique buyer.

“A Manhattan loft that served as a longtime studio for the late artist Roy Lichtenstein has come onto the market as a luxury apartment. Lichtenstein, who was famous for his oversized, brightly colored, comic-inspired paintings, once owned two lofts in building on 29th Street between Park and Lexington avenues.
“One was for living, the other was for creating,” The “creating” one, which takes up the entire seventh floor of the structure, is in the midst of a gut renovation. It totals 3,000 square feet and features 12-foot ceilings and 17 super-high windows. Asking price is a hair under $4 million. The apartment no longer has the Swiss cheese painting Lichtenstein executed on the fright elevator doors; the work was auctioned off. But the renovation plans do include a 24-foot-long chef’s kitchen and a master bathroom with steam room, radiant heated floors and a waterfall shower. The apartment should be ready for occupancy in four months; the owner, who declined to be named, will also alter the design to suit a buyer.
Lichtenstein, a New York native, bought the loft in 1984 and used it until he died in 1997, at 73. The neighbors are more illustrious than when he moved in. Among the other tenants of the cooperative building, according to public records, is Condé Nast International Chairman Jonathan Newhouse.

Interior photos withheld for privacy.

Project Details

Building Type:
Loft Building

Architect:
Cybul Cybul Wilhelm Architects

Management Company:
Halstead

Project Type:
Single Unit | Rehab

Price:
$3.7MM

Financed By:
Private Equity

Status:
Sold & Closed
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Location:
Midtown South

Project Involvement:
Identifying Opportunity, Acquisition,
Financing, Project Management, Construction,
Sales & Marketing, Brokerage Services

Year:
2005-2006

Press:
Forbes