Art Dealer Larry Gagosian Buys Private Equity Titan’s Townhouse For $36.5 Million

larry gagosian

New York art dealer-to-the-stars Larry Gagosian just picked up a mega-townhouse on the Upper East Side for $36.5 million, a relative bargain when you consider that the previous owner purchased in 2006 for $53 million, according to the New York Post (via Curbed).

Gagosian, whose East Hampton mansion suffered damage after a fire this summer (not to worry, none of his valuable art was damaged) has his work cut out for him on the townhouse–it’s in need of a renovation that could cost millions of dollars.

The seller, former Goldman Sachs partner J. Christopher Flowers, who now heads up his own private equity firm, isn’t selling for the cash; he’s in the midst of an ugly divorce that has been dragging on for years, NYP reports.

Flowers set a record when he spent $53 million on the 75th Street mansion five years ago, and that record still stands today.

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