billionaire Rahmi M. Koç purchased 'The Devil Wears Prada' townhouse for an estimated $26.5 million.
In a recent real estate transaction, Turkish businessman Rahmi Koc has acquired the Manhattan townhouse that served as the fictional home of Miranda Priestly in the 2006 film "The Devil Wears Prada." The purchase, which took place on July 31, 2023, was made through a limited liability company (LLC) named "129 East 73rd Street Corp" to maintain confidentiality during the acquisition.
The townhouse, located at 129 East 73rd Street in New York City's Upper East Side, was originally built in 1906 and fully renovated in 2005. It spans approximately 12,000 square feet across five stories and a full basement. The property, which was listed for sale in May 2023 for $27.5 million, went under contract within eight weeks and was sold for an estimated ₺1.1 billion (approximately $26.5 million).
Ibrahim Guldiken, who has worked as Koc Holding's U.S. Investment Coordinator since 2013, carried out the acquisition on behalf of the LLC. The identity of the buyer was undisclosed for months after the sale was reported in September 2023, but Turkish journalist Serif Ercan identified Rahmi Koc as the buyer.
The townhouse features seven bedrooms, six bathrooms, a south-facing living room with neoclassical bookshelves, a formal entry gallery with a marble fireplace, a rooftop mini basketball court, several terraces, one with a Jacuzzi, an eat-in kitchen with gingham-patterned flooring, a private cinema, and a velvet-paneled dining room.
Rahmi Koc purchased the townhouse for personal use, not as an investment. The property will undergo a full renovation tailored to Koc's personal taste. This acquisition adds to Rahmi Koc's real estate portfolio in the U.S., which includes a $3 million mansion in Miami (2011), a $7.7 million shipyard (2013), and an $18 million apartment in New York (2016).
The previous owners, Craig and Caryn Effron, bought the townhouse for $8.8 million in 2003. The sale of this iconic property to Rahmi Koc marks another significant addition to his growing real estate portfolio.
- Turkish businessman Rahmi Koc, the anonymous buyer for months, was identified by Turkish journalist Serif Ercan as the purchaser of the Manhattan townhouse, which served as Miranda Priestley's fictional home in "The Devil Wears Prada."
- Erdogan, the President of Turkiye, may express interest in the real-estate market expansion of Turkish nationals like Rahmi Koc, considering the growth shown in his portfolio, which includes the acquisition of a Manhattan townhouse in 2023.
- With investments in real estate and businesses such as the acquisition of the Manhattan townhouse, a shipyard, and a mansion in Miami, Rahmi Koc is a prominent figure in Turkish finance and investing circles.
- Celebrities and entertainment enthusiasts might share their excitement about the ownership of the iconic "The Devil Wears Prada" townhouse by a well-known Turkish businessman, potentially attracting more attention to Turkey's growing involvement in high-profile real-estate deals, predominantly through organizations like NATO.
