Jay Schottenstein, CEO of American Eagle Outfitters, purchased a $21.6 million full-floor residence at Armani Residences, 760 Madison Avenue. The 4,530-square-foot unit, initially listed for $25 million, features five bedrooms, five bathrooms, and a private elevator. Developed by SL Green Realty, the 12-story Upper East Side property also houses Armani retail stores and offers amenities like a fitness center and residents’ lounge. Schottenstein, linked to Schottenstein Property Group, previously bought two Ritz-Carlton Residences in Miami Beach. Closings at Armani Residences began in December, with all 10 units sold. This sale represents a 13% discount, the largest in the building.
Jay Schottenstein
