What's Happening?
Cara Delevingne has put her Gramercy Park East penthouse in New York City on the market for $11 million. The English model and actress purchased the property from Jimmy Fallon in 2022 for $10.8 million. The penthouse, which is part of the city's oldest surviving co-op, retains much of the decor from Fallon's tenure, including an antler chandelier and vintage floral wallpaper. The residence spans nearly 5,000 square feet and features unique elements such as a saloon, secret passageways, and a custom staircase. Fallon originally bought the home as a one-bedroom apartment in 2002 and expanded it over a decade. 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 dynamic nature of the New York City real estate market, particularly in high-demand areas like Gramercy Park. Properties in such locations often come with unique features and historical significance, attracting affluent buyers. Delevingne's listing also underscores the challenges faced by celebrities in managing real estate investments, especially after unforeseen events like the fire that damaged her previous home. The retention of Fallon's decor may appeal to buyers interested in properties with character and history, potentially influencing market trends in luxury real estate.
What's Next?
Potential buyers will likely be drawn to the penthouse's unique features and prime location. The listing agent, Stefani Berkin of R New York, will manage viewings and negotiations. As the property is part of a historic co-op, buyers may need to navigate specific ownership rules and community guidelines. The sale could set a precedent for future listings in the area, particularly those with celebrity connections or distinctive architectural elements.
Beyond the Headlines
The penthouse's sale may reflect broader trends in celebrity real estate, where properties are often bought and sold based on lifestyle changes or personal circumstances. The retention of Fallon's decor suggests a growing appreciation for homes with unique, personalized touches, which could influence design trends in luxury real estate. Additionally, the property's historical significance as part of the city's oldest co-op adds a layer of cultural value, appealing to buyers interested in preserving New York's architectural heritage.
