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Fashion designer Krakoff sells North End house to financier

Posted On: 06-11-2015

By Darrell Hofheinz Daily News Real Estate Writer

Fashion designer Reed Krakoff has sold, for $6.95 million, his Modernist house at 1480 N. Ocean Blvd., according to a deed recorded Monday. The new owner is Palm Beach real estate investor Jason Kalisman, grandson of the late real estate mogul Alfred Taubman.

Krakoff, former creative director and president of Coach Inc., had owned the house since 2010, when he paid $3.59 million for it, property records show. He and his wife, interior decorator Delphine Krakoff, extensively renovated the five-bedroom residence, which was built in 1986 and has 6,748 square feet of living space, inside and out.

Agents Paulette Koch and Dana Koch of the Corcoran Group had listed the property for sale in mid-April and landed it under contract a little more than a month later, according to records in the Palm Beach Board of Realtors Multiple Listing Service. Their sales listing described the house’s “beautifully proportioned rooms, very high ceilings and stunning back yard.”

Agent Todd F. Peter of Sotheby’s International Realty represented Kalisman in the deal.

The house occupies a lot measuring a little less than a third of an acre at the corner of Manana Lane on the far North End.

Other deals

Reed Krakoff, who left Coach in 2013, today oversees his eponymous line of women’s ready-to-wear and accessories.

The Krakoffs made real estate headlines early last year when they sold their renovated 18,000-square-foot townhouse on East 70th Street in New York City for a reported $51 million. The buyer’s identity was cloaked by a limited liability company.

Later that year, the Krakoffs reportedly paid $14.3 million for the 52-acre estate of the late copper heiress and recluse Huguette Clark in New Canaan, Conn. Clark, a longtime New York City resident, never lived in the 22-room house, although she had owned it for more than 60 years before her death in 2011. That house has more than 14,250 square feet.

The Krakoffs also have divided their time among home in the Hamptons and Paris.

In December 2009, Reed Krakoff sold a 5-acre vacant lot at 1255 S. Ocean Blvd. in Palm Beach for a recorded $10.65 million to a trust affiliated with real estate broker Lawrence A. Moens. Billionaire financier Thomas P. Petterfy later bought the property and built a house there.

Island ties

With longtime family ties to Palm Beach, Kalisman is founder and CEO of The Talisman Group, 324 Royal Palm Way, and is affiliated with related investment companies. He specializes in real estate investments and restructuring distressed corporations, according to public documents.

His parents, Gayle Taubman Kalisman and Michael Kalisman, have owned a house on Dunbar Road since 1994, property records show. Jason Kalisman owns no other property in Palm Beach County in his name.

In late May, Jason Kalisman resigned as interim CEO of Morgans Hotel Group, according to published reports. That company operates the Delano in Miami Beach, and the Hudson Hotel and Royalton in New York, among other properties.

 

Source: Darrell Hofheinz, June 11, 2015, Palm Beach Daily News

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