City property records showed that the Upper East Side home of Larry Gagosian in East 69th Street was sold for $18 million to Sascha S. Bauer, board chairman of Sculpture Center.
The three-storey house is said to be featured with artworks as well as money. Sascha S. Bauer is the son of Jay Bauer, co-founder of Seaman Schepps, a society jeweler.
A spy of the property has said, "It will need a lot of work. It's currently set up as a glorified one-bedroom bachelor pad with a pool."
According to Page Six, Gagosian's latest extensive real estate deal was the Harkness mansion he bought for $36.5 million in 2011. Christopher Flowers, who paid $53 million for the property in 2006, lost a lot of money when he sold it to Gagosian.
Art mogul Larry Gagosian has just closed a deal on the sale of his Lenox Hill Mansion at 147 East 69th Street to fellow art buff Sasha Bauer, chairman of the Sculpture Center in Long Island City, for a whopping $18 million.
6SQFT said Larry Gagosian bought the property in 1988 and transformed the former carriage house (of a late 19th century millionaire) into a single family residence called "House for a Bachelor."
The property was renovated by architect Francois de Menil. It features Gagosian's multi-million dollar collection of artworks which include pieces of Picasso, Andy Warhol and Roy Lichtenstein. The redesign of the house has won a 2000 AIA New York Design Award for interior architecture.
According to public records, Larry Gagosian, a famous art collector who worked with artists such as Cy Twombly and Richard Serra, has sold his sprawling carriage house for $18 million.
Gagosian had owned the property since 1988 when he bought it from Schlumberger heiress Christophe de Menil. He then filled the house with multi-million dollar art pieces, including an original art work of Picasso.
