Supermodel Linda Evangelista has officially parted ways with her longtime Chelsea penthouse loft, closing a nearly two-decade chapter in Manhattan’s high-end real estate market. According to public property records filed this week, the iconic fashion figure sold the 4,000-square-foot industrial loft located in the historic Spears Building for $6.75 million. The transaction brings to a close a protracted and challenging listing period that tested the realities of shifting macroeconomic conditions in the luxury housing sector.
The sale price reflects a significant discount from Evangelista’s initial expectations when she first listed the property. In 2024, the four-bedroom, two-bathroom residence was introduced to the market with an ambitious asking price of nearly $9.5 million. As market demand cooled and inventory adjustments rippled through Manhattan’s luxury cooperatives and condominiums, the listing underwent several price reductions. By January of the following year, the asking price had dropped to just shy of $8 million before finally settling at the $6.75 million closing figure—marking a reduction of nearly 30 percent from the original valuation.
A Look Inside the Spears Building Loft
Evangelista originally acquired the expansive loft in 2001 for $2.4 million, establishing a private enclave within the converted former furniture warehouse. Located at 102 West 19th Street, the Spears Building unit embodied the quintessential industrial-chic aesthetic that defined turn-of-the-millennium New York City interior design.
The residence features expansive living spaces anchored by 13-foot ceilings, polished concrete floors, and exposed brick walls. Natural light floods the main levels through a trio of structural skylights, highlighting a cavernous great room complete with a working wood-burning fireplace. The pass-through kitchen is outfitted with traditional butcher-block countertops, blending functional utility with open-plan design.
Beyond the primary living areas, the loft boasts an array of bespoke features tailored to its high-profile owner, including a primary bedroom suite with direct sightlines overlooking the adjacent High Line. The en-suite bathroom includes a separate soaking tub and a glass-enclosed shower stall. Furthermore, the property includes extensive storage infrastructure, featuring roughly 17 customized closets—highlighted by a six-unit, floor-to-ceiling wardrobe assembly in the dressing wing.
A Troubled Relationship with the Board and High-Profile Tenants
Despite the property’s architectural appeal, Evangelista’s tenure at the Spears Building was occasionally marked by high-profile disputes and administrative friction.
Chief among these challenges was a protracted legal battle concerning the building’s roof structure. In 2015, the condominium’s board attempted to levy a $1.5 million assessment exclusively against the owners of the building’s six penthouses to fund necessary roof repairs. The board argued that the costs should be borne entirely by the penthouse occupants due to their exclusive access to deeded private roof terraces—including a sprawling 2,500-square-foot outdoor expanse attached to Evangelista’s unit.
Evangelista, alongside prominent neighbors such as former Rag & Bone co-CEO David Neville and makeup artist Gucci Westman, contested the assessment in court. The litigation was ultimately resolved through an undisclosed confidential settlement.
Legal complications arose again in late 2023, when the condominium association filed suit against the supermodel, alleging she had accumulated approximately $237,000 in unpaid common charges and failed to maintain the residence in first-class condition. Like the previous dispute, this litigation was eventually settled out of court, clearing the path for future real estate maneuvers.
In the autumn prior to the sale, the loft found a temporary occupant in Hollywood actor Keanu Reeves. Alongside his partner, Alexandra Grant, Reeves reportedly paid $45,000 a month to rent the space while rehearsing and performing in a Broadway production of Waiting for Godot. The industrial, monochromatic interior design reportedly lent the space an aesthetic suited to the actor’s temporary residency.
Chronology of the Sale and Relocation
The transition out of the Chelsea loft marks a broader lifestyle shift for Evangelista, who has steadily consolidated her New York real estate footprint.
- 2001: Evangelista purchases the Chelsea penthouse loft in the Spears Building for $2.4 million.
- 2015: The condominium board issues a $1.5 million roof repair assessment directed at penthouse owners, triggering a lawsuit that ends in a confidential settlement.
- October 2023: The condominium association files a lawsuit alleging $237,000 in unpaid fees and maintenance violations, which is subsequently resolved.
- Fall 2025: Keanu Reeves rents the loft for $45,000 monthly during his Broadway engagement.
- March 2025: Property records indicate Evangelista acquires a three-bedroom corner unit at 35 Hudson Yards for $5.2 million, featuring floor-to-ceiling Hudson River views and building amenities.
- 2024–Early 2026: Evangelista lists the Chelsea penthouse for nearly $9.5 million, reduces the price to under $8 million in January, and ultimately closes the sale at $6.75 million.
Market Implications and Future Outlook
The sale of the Spears Building penthouse underscores ongoing recalibrations within Manhattan’s luxury real estate market, particularly for large-scale loft properties that require substantial capital investments or modernized updates. While the nearly 30 percent markdown from the initial asking price highlights the softening demand for specific vintage aesthetics in a competitive landscape, the transaction nonetheless represents a substantial return on investment for Evangelista, who more than doubled her initial 2001 capital outlay over a 25-year holding period.
With her real estate focus now shifted northward, Evangelista appears settled into her contemporary residence at Hudson Yards. The move aligns with a broader trend among long-term Manhattan residents trading classic, high-maintenance historic lofts for fully amenitized, modern residential towers offering streamlined property management and contemporary urban conveniences.
