Former Revlon CEO Lists UES  Condo for $10.5 Million

By: Serach Nissim

A former chief executive at Revlon has listed his uptown condo for sale.

As reported by Crain’s NY, on Thursday Jack L. Stahl listed his home for $10.5 million.  The six-bedroom condo apartment is No. 21A at 255 E. 74th St, on Second Avenue, in the heart of Manhattan’s Upper East Side.   The sun-filled 4,000 square foot home, which boasts three exposures offering stunning northern and western sunset views, was purchased by Stahl for $8 million in 2009, when the building was first completed.  The home boasts a gourmet kitchen, a Crestron sound system, a wet bar and wine fridge, built-ins cabinets, Waterworks polished nickel fixtures and Ann Sacks tiling.

Stahl had served as CEO and President of Revlon, the cosmetics giant, from 2002 to 2006, per Crain’s.  He has also held several  top roles at Coca-Cola Company over more than two decades. Today he works as chairman of the  Boys & Girls Clubs of America.  The home is being listed by Patricia Parker, an agent with Sotheby’s International Realty.

The 31-story Lenox Hill building, known as Casa 74, was built in 2008 and boasts 87 lush residences.  The building features  a shiny exterior with “Armani like” glass and metal panels. Developed by the renowned World-Wide Group, the building tapped H3 Hardy Collaboration Architecture and for interiors Coffinier Ku Design.  Apartments boast high end appliances like Sub-Zero refrigerators  and Miele appliances,  fine Varenna Italian cabinetry by Poliform, floor-to-ceiling glass, 10-foot-high ceilings, Toto toilets, and radiant heating in the master bath floors.   The building has three penthouses on the top floors.  Amenities at the full-service building include a private outdoor garden, a 42,000-square-foot Equinox facility, a resident’s lounge, party room, bike room, cold storage, 24-hour doorman, and valet/concierge services. There is also space for children of all ages.

Per Street Easy, there is a toddler room featuring a cruising wall, a climbing tree house and 1,500-square-foot outdoor space.  For teens there is an arcade with pin ball machines, extreme dance and basketball arcade games, as well as Foosball, air hockey and table tennis.  Currently,  a four-bedroom unit in the building, spanning just under 2,500 square feet, is listed for $4.995 million and is under contract, as per Street Easy.   Another 3-bedroom 3.5 bathroom unit, spanning 2,054 square feet, at 255E. 74th street is also under contract  now, with an asking price of $4.25 million.  In 2009, a penthouse was purchased at the building for $12.98 million, per Curbed.

The building’s developer, The World-Wide Group, has experience with past projects including The Milan and Beacon Court, wherein  they also worked with French trained Etienne Coffinier  to create posh modern residences.  The home is one of the rare high-end homes up for grabs this winter that’s not part of a newly built project. There had been some speculation a few months ago, when  the Fed moved to hold interest rates, that this would energize home markets and lead to more listings.  This hasn’t yet actualized, and we haven’t seen much of a surge in inventory.   Per Crain’s, this might be because the 30-year fixed mortgage rates are still above 7%, making homes less affordable  to anyone but all-cash buyers.

Stahl had started off working at Coca Cola company in 1979, and went on to become the company’s youngest-ever chief financial officer in 1986.