It only took 13 years!
A billionaire fashion mogul is finally in contract to sell his ginormous suite at the Plaza Hotel — at an even bigger loss.
Jürgen Friedrich, former head of European operations at Esprit, and his wife, Anke Beck-Friedrich, bought the residence, known as the Astor Suite, for $25.49 million in 2007. A year later, the couple tried to flip the unit for $55 million.
But the stately residence — which has hosted President John F. Kennedy and the Nazi-loving Duke of Windsor, Edward VIII — was last asking $19.95 million.
The buyer, represented by agent Nick Nick Agostinelli of Elegran, is a New York-based finance family, who is paying close to ask, sources said
Listing broker Charlie Attias of Compass — who only had the listing for three months — declined to comment.
To Esprit founder Jürgen Friedrich (inset), making clothes comes easy — making a close does not, at the Plaza.Sources previously told Gimme Shelter that Friedrich stands to lose even more money on the deal because he invested around $8 million into renovating the fancy space plus an adjacent one-bedroom guest bedroom, which is on the market separately for $2.95 million — hiring noted celebrity designer Steven Gambrel for both jobs. (The smaller unit is still on the market.)
How is that possible? Gambrel hired “master artisans” who helped rebuild Windsor Castle in England, the listing notes.
Both fifth-floor pads have some of the highest ceilings inside the Plaza, at 14 feet above the floor.
The grand Astor Suite is 4,299 square feet and comes with four bedrooms and 4½ bathrooms.
There’s lots of custom millwork, built-ins, fireplaces with elaborate antique mantels, oak paneling, hand-hammered leather walls from France and other high-end finishes — along with a large reception entry hall, a chef’s kitchen, library and corner dining room.
