River House before highway 1
Value investor Wilbur Ross has seen the future, and is betting on better days in east midtown, where the luxe district surrounding Sutton Place and Beekman Place was once the height of fashion but more recently has been forgotten if not faded. Ross has purchased a long-on-the-market 14-room duplex apartment at nearby River House, formerly owned by Arlene Farkas, initially listed at $15 million but sold at just over half that price. Ross, once the president of the board of trustees at The Dakota, currently occupies a grand penthouse at the corner of 57th Street and Seventh Avenue, in the shadow of Extell’s excrescence, One57, which towers over his sprawling terrace. In a curious footnote, Ross bought that apartment from Andrew Farkas, another member of the same family. UPDATE: Curbed found the listing for Ross’ Billionaire’s Belt pad. He’s asking $21 million. BTW, it once belonged to Earl Blackwell, the founder of Celebrity Service.