What's Happening?
Cara Delevingne has put her Gramercy Park East penthouse 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, located in one of New York City's oldest co-op buildings, retains much of the original decor from Fallon's ownership, including an antler chandelier and vintage wallpaper. The nearly 5,000-square-foot triplex features a saloon, secret passageways, and a custom staircase. Fallon originally bought the property as a one-bedroom unit 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 high-profile property highlights the fluctuating real estate market in New York City, particularly in luxury segments. Delevingne's decision to sell may reflect broader trends in celebrity real estate investments and the impact of personal circumstances, such as the fire at her previous residence. The listing also underscores the enduring appeal of historic properties in Manhattan, which continue to attract affluent buyers despite economic uncertainties. The penthouse's unique features and prime location near Gramercy Park add to its allure, potentially setting a benchmark for similar properties in the area.
What's Next?
Potential buyers will likely be drawn to the penthouse's historical significance and unique design elements. The sale could influence market trends for luxury properties in Manhattan, especially those with celebrity connections. Real estate agents and investors will be watching closely to see if the property sells at its asking price, which could signal the strength of the high-end market. Additionally, Delevingne's future real estate moves may attract attention, given her previous investments and the recent loss of her Los Angeles home.
Beyond the Headlines
The sale of this penthouse may also raise questions about the sustainability and preservation of historic properties in urban areas. As more celebrities and affluent individuals invest in such properties, there could be increased interest in maintaining their architectural integrity while adapting them for modern living. This trend might encourage more developers to focus on restoring rather than replacing historic buildings, contributing to the cultural and historical fabric of cities like New York.
