William Lauder has sold a New York City co-op for $37.5 million without listing it publicly.

William Lauder Sells Fifth Avenue Co-op for $37.5 Million

William Lauder, the exiled Executive Director and longtime chairman of the Estee Lauder Company, has sold his co-op at 998 Fifth Avenue for a hefty $37.5 million in an off-market deal.

This sale, first revealed by real deals, comes as Lauder appears to be streamlining his property holdings.

The buyer is Evan Cheng, the co-founder and CEO of blockchain infrastructure firm Mysten Labs. Cheng, who previously worked as a senior engineering executive at Meta, purchased the unit for $23.5 million back in 2017.

Apartment 6W, situated in a notable limestone building completed in 1912, boasts four bedrooms and five bathrooms, featuring an eat-in kitchen and views of both Central Park and the Metropolitan Museum of Art.

The transaction highlights Lauder’s ongoing efforts to manage his real estate portfolio, including the sale of a 12th-floor apartment at 778 Park Avenue. Originally owned by Revlon chief Ronald Perelman, this unit has seen a slight price reduction from its initial $27 million asking price, according to Streeteasy.

Lauder, who acquired the Park Avenue unit in 2023 for $24 million, also owns another apartment in the same building, which he bought in 2008 for $27.5 million. This second property was previously listed at $45 million but didn’t sell.

Away from Manhattan, Lauder has been observing record sales in Palm Beach. Recently, he reportedly found a buyer for a $178 million oceanfront property, though it remains unclear if that deal has finalized.