Billionaire fashion mogul sells suite at New York’s Plaza Hotel for $20 million years after asking for $55 million

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Billionaire fashion mogul finally sells huge suite at iconic New York’s Plaza Hotel for $20 million – 13 years after putting millions into renovations and bringing it to market for $55 million

  • Esprit founder Jürgen Friedrich and his wife, Anke Beck-Friedrich have signed a contract to sell their 4,299-square-foot suite at the Plaza Hotel to a financier and his family for approximately $20 million.
  • The couple bought the unit, which previously housed former President John F. Kennedy and the Duke of Windsor Edward VIII, for $25.49 million in 2007.
  • They previously spent about $8 million renovating the unit and an adjacent one-bedroom guest room, which is on the market separately for $2.59 million.
  • The suite features four bedrooms and four 1/2 baths with high ceilings and views of Central Park

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A billionaire fashion mogul has a contract to sell his sprawling Plaza Hotel suite overlooking Central Park to a financier and his family at a significant loss.

Esprit founder Jürgen Friedrich and his wife, Anke Beck-Friedrich, bought the home, known as the Astor Suite, in 2007 for $25.49 million.

The pair tried to flip it a year later for $55 million after spending $8 million on renovations, the New York Post reports.

But the 4,299-square-foot suite is now finally being sold 13 years later to a New York financial family, the Post reports, for roughly its latest asking price of $19.95 million.

The Plaza Hotel's Astor Suite has a long foyer with large glass chandeliers hanging from the ceiling

The Plaza Hotel’s Astor Suite has a long foyer with large glass chandeliers hanging from the ceiling

The suite has a private library complete with a leather sofa and chair

The suite has a private library complete with a leather sofa and chair

A living room in the unit offers ample space, overlooking Central Park

A living room in the unit offers ample space, overlooking Central Park

Esprit founder Jürgen Friedrich and his wife, Anke Beck-Friedrich, bought the Astor Suite in 2007 for $25.49 million and spent $8 million renovating it. They are now selling it for only about $20 million

Overlooking Central Park, the property has previously hosted former President John F. Kennedy and the Duke of Windsor, Edward VIII.

But the low selling price is a huge loss for the fashion magnate.

The couple spent millions renovating the fifth-floor suite and an adjacent one-bedroom guest room.

The guest bedroom is still for sale, separate from the Astor Suite, for $2.95 million.

They hired famed famed designer Steven Gambriel for the renovations, and he in turn hired “master craftsmen” who previously helped rebuild Windsor Castle.

Both the master suite and separate guest room now boast some of the highest ceilings in the hotel, at 14 feet, and have custom millwork.

The main unit, with four bedrooms and four 1/2 bathrooms, features an extensive and long hallway for guests to enter.

There are fireplaces with elaborate antique fireplaces, oak panelling, hand-hammered leather walls imported from France, a chef’s kitchen, a personal library and a dining room in the corner.

There are rustic fireplaces in the suite complete with elaborate mantelpieces

There are rustic fireplaces in the suite complete with elaborate mantelpieces

The unit comes with four bedrooms and four and a half bathrooms and offers a serene Manhattan escape

The unit comes with four bedrooms and four and a half bathrooms and offers a serene Manhattan escape

It has a chef's kitchen with a gas stove and plenty of storage space

It has a chef’s kitchen with a gas stove and plenty of storage space

The unit is located on the fifth floor of the legendary Plaza Hotel, on Fifth Avenue in Central Park South

The unit is located on the fifth floor of the legendary Plaza Hotel, on Fifth Avenue in Central Park South

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