Reed Krakoff

A Vogue-approved townhouse has passed from a handbag mogul to a long-haired psych rock legend. Pink Floyd front-man Roger Waters (whose iconic song “Money” from Dark Side of the Moon assailed wealth and new cars and caviar) bought the nine-fireplace townhouse at 157 East 61st Street late last month.

According to city records, he paid $14.995 million to Coach president and executive creative director Reed Krakoff. That’s nearly a half million more than Mr. Waters got for three apartments he sold last year at the glossy Olympic Tower.

But this deal has been an incredibly long time coming. City records show his contract was signed in June 2006: Back then, The Observer reported on the deal without knowing that the Floyd singer (and songwriter, and bassist) was the buyer.

So Mr. Waters, bless his psychedelic soul, will have himself a townhouse built by “an army of French craftsmen,” according to the listing with Brown Harris Stevens brokers Paula Del Nunzio and Shirley A. Mueller. The French hardware is “done in nickel and silver” (except in the glass bathrooms, or the Macasar Ebony powder room.) Even the light toggle switches are nickel.

But don’t forget the 26-foot wall of glass over the planted garden, the double-height living room, the five-floor elevator, or the nine Louis XVI-period fireplaces.

Floyd’s more rebellious fans, the ones who cry when listening to The Wall, might be sorry to hear that Mr. Waters also has Louis XVI parquet floors and lots of Louis XVI stone—in the kitchen, the master bedroom, and on the rear terrace. (Maybe that’s why Vogue and House & Garden has photographed the house.)

Symbols of late-60's rebellion really live very well in the mid-00’s.

Meanwhile, Mr. Rogers has Mr. Krakoff to thank for the townhouse--because the place was "gut renovated and entirely rebuilt" by the Coach mogul. But Mr. Krakoff has more work ahead: In November, his newly-purchased $17 million townhouse on East 70th Street was gutted in a massive fire.

A nightmare week for the Upper East Side continues. NY1 reports that there's been an enormous fire at Coach president Reed Krakoff's new $17 million home.

Earlier this year, Michael Calderone wrote:

When Mr. Krakoff purchased his new 30-foot-wide townhouse on East 70th Street, between Park and Lexington avenues--the same tony block that director Woody Allen now calls home--it was reported that the fashion executive would have about $2.5 million in renovations in front of him.

After it took 140 firemen to put out the main blaze, the FDNY said: the fire "appears suspicious."

UPDATE: WCBS-TV is reporting that authorities are suspicious because (a) the fire "began at around 2:30 in the morning" and (b) the townhouse "was not occupied; it was in the process of being renovated." - Max Abelson

Upper East Side brokers often dub East 70th Street, between Park and Lexington Avenues, as the city's best townhouse block. And in 2006, it's been the sight of three big deals, with bold face buyers like Woody Allen, Coach president Reed Krakoff, and Irish businessman Tony White.

Mr. White has been involved in two of those deals, first selling his 20-foot townhouse to Mr. Allen for $22.625 million. And now, he's just completed a deal to purchase the mansion that housed the last Paul Mellon for $22.5 million, according to city records.

Back in February, The Observer reported that Mr. White was under contract to purchase the storied mansion when it was listed at $24.5 million.

Kirk Henckels and Jo Hardin, of Stribling & Associates, had the listing. Mr. Henckels declined to comment on the deal.  read more »

- Michael Calderone