HOUSE OF THE DAY: Karl Lagerfeld Sells His Gramercy Park Apartment To A Banker At A $2 Million Loss

karl lagerfeld apartment gramercy park north

Photo: Prudential Douglas Elliman Real Estate

It’s hard to believe that Karl Lagerfeld would have a hard time selling his unused Gramercy Park pied-à-terre, but it took two years and a $2 million price chop for the famed Chanel designer to unload his 2,200-square-foot pad at 50 Gramercy Park North.

He’s finally sold it to Macquarie banker Sebastian Barrack for $4.5 million, far less than its initial $6.5 million asking price, The New York Post reports.

Lagerfeld purchased the stark white, three-bedroom apartment in 2006 for $6.575 million. rumour has it he never even actually moved in.

Unfortunately for Barrack, the apartment gets poor natural light and has a high maintenance fee. But it does come with a coveted key to Gramercy Park.

The apartment looks untouched.

The great room has expansive views of Gramercy Park.

The floors are all dark oak.

The white ceilings and large windows really open up the space.

This comes with one of New York's most coveted items: a key to Gramercy Park.

There are built-in bookshelves on two walls of the library/office area.

The kitchen features Varenna cherry wood cabinets, stainless steel countertops, and Miele appliances.

The bedrooms are not huge, but the natural light is beautiful.

This bedroom has a bathroom attached.

A modern bathroom.

And in case you were wondering what the view was like...

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