The famous designer is struggling to sell his house

Reed and Delphine Krakow; 54 East 64th Street (Sotheby’s International Realty, Getty Images, Illustration by Kevin Cifuentes for The Real Deal)

A former Tiffany and Coach designer cut $6 million off the asking price for his renovated Lenox Hill townhouse.

It’s not quite off the shelf, though: Reed Krakow and his wife Delphine still want $42 million for their six-story home at 54 East 64th Street, which has failed to sell since November.

Krakow, Chief Technical Officer of Tiffany & Co. and Dolphin, an interior designer, paid $28 million for a 12,500-square-foot home designed by Flagg and Chambers and renovated it to their taste, according to a Streeteasy listing of the property by Serena Boardman. From Sotheby’s International.

Krakow made his name as Creative Director at Coach, which he left in 2013 to found a eponymous label that folded two years later. He joined Tiffany in 2017.

The couple have made some notable home purchases, including the $14 million Connecticut mansion for reclusive heiress Huggett Clark that has been empty for 60 years. Eight years ago, in 2006, they spent $24 million to purchase the East Hampton mansion where Jackie Onassis grew up.

The six-bedroom home on East 64th Street, which once housed the New York Observer, was originally listed with Brown Harris Stevens Paula Del Nunzio last November for $48 million. Del Nunzio sold two Upper East Side homes in Krakow: one for $51 million in 2013, and another in 2007 to Pink Floyd’s Roger Waters.

The Krakoffs renovation has not spared any details. The custom-made brushed nickel balustrade on the staircase—designed to look like a sculpture—was handcrafted in Paris. The library/dining room has 18th-century French oak floorboards from the Hotel Parisien and the dining kitchen has 18th-century marble from the Loire Valley in central France.

The fireplace in the living room, one working and one decorative, has 19th century English Carrera marble.

Four bedrooms are on the fourth floor, while the basic suite is on the fifth. The sixth floor has a sunny sitting room with ornate fireplace and opens to a south facing balcony. To the north is a second ivy-covered balcony 22 feet deep with rooftop views. Both terraces have wooden floors and irrigation.

The house also has a separate entrance at street level that leads to a staff or guest apartment with full kitchen, bathroom and bedroom.

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