The chief of J. Crew Millard "Mikey" Drexler is looking to unload one of his properties in New York. The property in question is a massive Tribeca penthouse that has recently been listed for sale for a cool $35 million.
As reported by New York Daily News, the home was purchased by the 70-year-old in 2012 is now up for grabs for more than double the price of what the women's clothing guru paid. Drexler looks to make a big payday on the property as the CEO paid $14.3 million for the top-notch piece of real estate a mere three years earlier.
The property is one of 12 units in a loft building just off Varick St. The new owner will enjoy the five bedrooms and five bathrooms spaning 6,225-square-feet with classy interior designed by Thierry Despont. The home has a 82-foot-long grand salon, 11-foot ceilings, original columns and a stunning view of Lower Manhattan
The layout includes staff quarters, a private laundry room and the split-bedroom layout allows easy access to a master study that is directly adjoined to the suite
In addition to the fine furnishing, NY Curbed reports that the property is being sold fully-furnished.
StreetEasy reports that the boutique building provides residents with 24-hour doorman service. The unit of the businessman has been described to be "arguably the best simplex floor plan in Tribeca."
The sale comes after recently news of challenges being faced by the J. Crew Group, which the company's head has described as a "lousy year." Last month, it was revealed that the business remained stagnant at approximately $625 million. Some maneuvers that didn't turn out well for the apparel brand, per Bloomberg, resulted from to much meddling with the styles that resulted in unflattering fits for customers. As an example, the women's pants weren't a hit because they company didn't offer a wide-enough selection outside of its typical "mini or pixie lines."
"Fashion is guaranteed never to always be right," said Drexler, a veteran in the apparel industry. "That's the only guarantee in my many years of doing this."
The Tribeca penthouse isn't the only one being listed, apparently, the J. Crew head is also trying to sell a Wainscott beach house for $26.5 million in the East Hamptons.
The property has been listed with broker to the stars, Adam Modlin.
