A sprawling apartment within the iconic Dakota building, co-assembled by Tribeca Film Festival co-founders Jane Rosenthal and Craig Hatkoff, has seen another significant price reduction. The 6,000-square-foot residence, located at 1 W. 72nd St., was relisted this week for $12.5 million. This marks the latest in a series of price adjustments since the property first hit the market in 2016 with an asking price of $39 million.
The unit has been assembled over more than 30 years through 20 separate transactions. Rosenthal, a producer and co-founder of the Tribeca Film Festival with Robert De Niro and Hatkoff, and Hatkoff, a real estate investor, purchased the individual units incrementally. The couple, who split in 2014 after 19 years of marriage, have continued to market the combined apartment.
The property includes a separate 400-square-foot unit across the hall, which was previously listed for $15 million on its own. The listing broker, Ben Dixon of Douglas Elliman, noted that the apartment offers more Central Park frontage than any other unit in the building.
Despite its prime location and historical significance, the apartment has faced challenges in finding a buyer. Brokers suggest that the landmarked status of The Dakota, which imposes strict regulations on renovations, contributes to the property's prolonged presence on the market. "Buyers looking to modernize need to be up for a renovation," Dixon stated. "This is set to be one of the most iconic homes in Manhattan for the buyer who chooses to invest the time and money to reimagine it for today."
To address potential buyer concerns about renovations, Dixon commissioned an alternative floor plan from architect Elena Frampton. This reimagined layout proposes transforming the residence into a five-bedroom home with ensuite bathrooms, subject to co-op board approval. Dixon hopes the latest price cut will provide prospective buyers with the financial flexibility to undertake such a renovation.
The apartment retains original architectural details, including 11-foot ceilings, coved archways, and two wood-burning fireplaces. The Dakota building itself has a rich history, famously serving as the location of John Lennon's murder in 1980, and continues to be home to other notable residents, including Yoko Ono, who owns a unit one floor below.
