While the real estate tycoon Don Peebles and his wife, Katrina, are waiting for their penthouse at 108 Leonard St. in TriBeCa, which his corporation is co-developing with the Elad Group, the couple rents a stately brownstone at 48 W. 85th St.
The brownstone home which has an area of 7,000-square-foot comes with seven bedrooms and five bathrooms.
The home was listed on the market for six months last year with the asking price of $13.8 million until it was taken off. According to the New York Post news the monthly rent for the townhouse was last listed in August at $30,000.
Last Tuesday night, Peebles hosted a holiday party at this Upper West Side with a stunning setting ideal for entertaining guests.
The property, standing 20 feet wide, has great features of eight fireplaces, crown moldings, coffered ceilings, Baccarat crystal chandeliers and brocade wall coverings.
Meanwhile, the downtown project at 108 Leonard St. which was built in 1898 is a luxury mixed-use conversion of a landmarked property is the site of the original home of the New York Life Insurance Company.
The 419,000 square foot space is the single largest property ever sold by the city to Peebles and Elad for $130.42 million in 2013.
Don Peebles has developed six million square feet of real estate properties in California, Florida, Washington, D.C., and for the past three years, New York since he launched Peebles Corp. three decade ago.
According to The Real Deal report, Peebles has a home in Washington, D.C. (but he spends very little time there), one in Bridgehampton (a small beach house in Sag Harbor), a penthouse apartment at the Setai in the Financial District, and family home in Coral Cables in Florida.
Today, he is a partner of the Elad Group on the nearly $500 million conversion of 108 Leonard St. Overall, nationwide active projects of Peebles has an approximate amount of $2 billion, and has a future projects in the works amounting to $1.7 billion.
