GAGOSIAN BUYS $36.5 MIL MANSIONAug. 18, 2011
Now that the fire’s been put out at Larry Gagosian’s Amagansett home, the megadealer can focus on some better real-estate news. He has just closed on the 20,000-square-foot Harkness Mansion two blocks away from his Upper East Side gallery, at 4 E. 75th St., for $36.5 million. He bought the 50-foot-wide townhouse from private-equity manager J. Christopher Flowers, who sold it to Gagosian at a pretty significant loss, the New York Post reports. Flowers paid a record-breaking $53 million for it in 2006, but apparently now needs to sell it quick because of a bitter divorce proceeding. Flowers reportedly spent $4 million to gut renovate the place in 2009, but Gagosian is expected to put in several million more.