REAL ESTATE

Famed Designer Struggles to Sell Townhome

Reed and Delphine Krakoff; 54 East 64th Street (Sotheby’s International Realty, Getty Images, Illustration by Kevin Cifuentes for The Real Deal)

A Tiffany and former Coach designer has cut $6 million off the asking price of his gut-renovated Lenox Hill townhouse.

It’s not quite on the discount rack, though: Reed Krakoff and his wife Delphine still want $42 million for their six-story home at 54 East 64th Street, which has failed to sell since November.

Krakoff, chief artistic officer at Tiffany & Co., and Delphine, an interior decorator, paid $28 million for the 12,500-square-foot home designed by Flagg and Chambers and renovated it to their tastes, according to the property’s Streeteasy listing by Serena Boardman of Sotheby’s International.

Krakoff made his name as the creative director at Coach, which he left in 2013 to found an eponymous label that folded two years later. He joined Tiffany in 2017.

The couple have made some notable home purchases, including a $14 million Connecticut mansion of reclusive heiress Huguette Clark that sat empty for 60 years. Eight years earlier, in 2006, they spent $24 million to buy the East Hampton mansion where Jackie Onassis grew up.

The six-bedroom home on East 64th Street, which once housed the New York Observer, was originally listed with Brown Harris Stevens Paula Del Nunzio last November for $48 million. Del Nunzio had sold two of the Krakoffs’ Upper East Side townhouses: one for $51 million in 2013, and one in 2007 to Pink Floyd’s Roger Waters.

The Krakoffs’ renovation spared no detail. The custom-polished nickel handrail on the staircase — designed to resemble a sculpture — was handmade in Paris. The library/dining room has 18th century French antique oak floorboards from a Parisien hotel and the eat-in kitchen has 18th century marble from central France’s Loire Valley.

The two fireplaces in the living room, one working and one decorative, have 19th century English Carrera marble mantels.

Four bedrooms are on the fourth floor, while the primary suite is on the fifth. The sixth floor has a sunny sitting room with a decorative fireplace and opens onto a southern-facing terrace. To the north is a second, 22-foot deep ivy-covered terrace with rooftop views. Both terraces have wood decking and irrigation.

The house also has a separate street level entrance that leads to a staff or guest apartment with a full kitchen, bathroom and bedroom.

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