By E.B. Solomont
THE DEAL: Cosmetics billionaire William P. Lauder has sold a Manhattan co-op for $21.25 million -- a $3.7 million loss from when he bought it three years ago.
THE BUYER: The buyers are financier David Rogers and Elizabeth Dexter, an interior designer, who own another co-op nearby, property records show. They couldn't immediately be reached for comment.
THE SELLER: Lauder, the chairman of the board of beauty giant Estée Lauder Companies, purchased the Park Avenue apartment for $24.95 million in 2023, records show. He listed it for $26.95 million in 2024, according to StreetEasy, and it was most recently asking $22.5 million. Lauder declined to comment.
THE SPECS: The full-floor apartment has five bedrooms and a formal dining room, according to the listing with Cathy Franklin and Alexis Bodenheimer of the Corcoran Group. There are three wood-burning fireplaces.
Lauder previously listed another unit in the same building for $45 million in 2019; he pulled it off the market after dropping the price to $39 million.
A prolific buyer and seller of real estate, Lauder sold a co-op on Fifth Avenue for $37.5 million in 2025, records show. He paid $155 million for an estate in Palm Beach in 2023.
THE MARKET: New York's most exclusive co-ops on Park and Fifth Avenue, many built in the 1920s, once commanded top prices. However, Upper East Side co-op values have lagged behind condominiums in recent years.
Sales of luxury condos and co-ops in Manhattan rose 1.9% during the first quarter compared with the prior year, according to real-estate appraisal firm Miller Samuel, although the average sales price dropped 7.9% year over year.
Write to E.B. Solomont at eb.solomont@wsj.com
(END) Dow Jones Newswires
May 26, 2026 19:40 ET (23:40 GMT)
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