What is the story about?
What's Happening?
Cara Delevingne has put her Gramercy Park East penthouse on the market for $11 million, a property she purchased from Jimmy Fallon for $10.8 million in 2022. The penthouse, located in one of New York City's oldest co-op buildings, retains much of the decor from Fallon's ownership, including vintage floral wallpaper and an antler chandelier. Fallon originally bought the property as a one-bedroom unit in 2002 and expanded it over a decade into a four-unit triplex. The residence features unique elements such as a saloon, secret passageways, and a custom staircase. Delevingne's decision to sell comes after her Studio City mansion was damaged in a fire in 2024.
Why It's Important?
The sale of this penthouse highlights the ongoing demand for luxury real estate in New York City, particularly in historic and unique properties. Delevingne's decision to maintain the original decor reflects a trend among buyers to preserve the character of iconic residences. This listing also underscores the financial dynamics of celebrity real estate transactions, where properties often appreciate in value due to their association with high-profile individuals. The sale could influence market perceptions of property value in the Gramercy Park area, known for its exclusivity and historical significance.
What's Next?
Potential buyers will have the opportunity to acquire a piece of New York City's architectural history, complete with a key to the exclusive Gramercy Park. The real estate market will watch closely to see if the penthouse sells at the asking price, which could set a precedent for future listings in the area. Delevingne's real estate moves may also impact her personal and professional life, as she navigates property ownership in both New York and Los Angeles.
Beyond the Headlines
The preservation of Fallon's decor by Delevingne raises questions about the cultural value of celebrity-owned properties and their impact on real estate trends. It also highlights the intersection of personal taste and marketability in luxury real estate, where unique design elements can enhance a property's allure.
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