June 06, 2012

J. Crew Chief Mickey Drexler Adds a Tribeca Condo to His Collection
of Pricey Property Holdings

seersucker suits and artfully-wrinkled linen shirts!

Mr. Drexler has won the bidding war for 140 Franklin Street, beating out the other buyers to sign a contract that exceeds the $13.5 million ask, according to the New York Post.

The five-bedroom, full-floor “mansion in the sky” will join the rest of the J.Crew chief’s collection,
which includes a both a 5.6-acre oceanfront estate on Long Island and the country’s oldest working cattle farm in Montauk, according to the Post. The Bronx-born
Drexler does not, at least under his own name, own any other properties in the city, according to city

We wonder what kind of makeover Mr. Drexler will give this sprawling space. If his oversight is
anywhere nearly as successful as his time at the helm of the Gap and J. Crew, we assume that the
apartment will be worth a lot more by the time he gets through with it.

Really, the home looks like the perfect place for a man who has excelled at blending old and
new—if it were an outfit it would be a bright persimmon-colored coat paired with a heather gray
cable-knit sweater. Located in a landmarked 1887 building with iconic, arched windows, the
apartment is modern and airy, with an entertaining space spanning 100-feet, a hot tub and
convenient pocket doors to create more intimate spaces (so you don’t feel like you’re living in a
retail store). Also? There’s a 150-bottle temperature controlled wine cave!

Halstead broker Richard Orenstein must be delighted (to say nothing of owner Tracey Riese, who
bought the place for $4.5 million in 2000. The place spent all of two weeks on the market.

And may we recommend calling on the impeccable Jenna Lyons, as he has so many times before?
After all, Ms. Lyons did a breathtaking job with her Park Slope brownstone, netting a nice return
when she sold the house this spring. Last we heard, Ms. Lyons was also living in Tribeca, at the
American Express Carriage House, so she could pop over for a quick style consultation any time.

The Observer



































back to top





Local Scene

Tribeca is dominated by former industrial buildings that have been converted into residential buildings and lofts, similar to those of the neighboring SoHo-Cast Iron Historic District. In the nineteenth and early 20th centuries, the neighborhood was a center of the textile/cotton trade.


Fun Facts

Notable buildings in the neighborhoods include the historic neo-Renaissance Textile Building built in 1901 and designed by Henry J. Hardenbergh, the Powell Building, a designated Landmark on Hudson Street, which was designed by Carrère and Hastings and built in 1892.