Published On: Thu, Jan 9th, 2014

Annie Leibovitz Closes a $28.5 Million Deal on Her West Village Complex

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Ms. Leibovitz’s property, comprising three separate townhouses that she bought and combined more than ten years ago, had been on the market for a year.

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 Annie_Leibovitz

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Renowned international photographer Annie Leibovitz has reportedly found a buyer for her 10,200 square-foot compound situated in the heart of  Manhattan’s West Village.

According to real estate commentators Annie Leibovitz picked up around $28.5million for her three properties combined into one, situated on the corner of Greenwich Street, and West 11th Street. Initially Annie was asking for $32 million for the complex but is reported to be happy with the price that she was offered.

The  Leibovitz compound comprises three separate townhouses which are inter-linked. The largest townhouse was used for  living space, with the second use for both office  space as well as a photo studio, with the remaining property on West 11th Street used as guest quarters.

Details of the identity of the property buyer remain confidential, with the only evidence available being that home’s buyer is listed as  755 Greenwich LLC, which is the principal address of the Leibovitz compound.

Ms. Leibovitz was fortunate to acquire the three properties, more or less in one fell swoop during the years 2002/ 2003 paying a total of  $6.1million for the three properties which were built  during the 1830s and reportedly badly in need of renovation.

After undergoing extensive renovation, Annie Liebovitz moves into the complex which has been her home ever since. All of the properties  are totally interconnected surrounded by an attractive  slate patio and its own private courtyard garden.

According to public records the properties on Greenwich Street,  755 and 757 sold for $23.5 million between them, while the considerably smaller 11th Street property went for $5 million, public records show. Despite the fact that the property deal closed during the third week of December, details have only become public in the last few days.

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Annie Leibovitz

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The new owners  of the Leibovitz compound will be getting 40-foot-wide townhouse and a connected 20-foot guest house, which comes with original stoops and doors, and no less than 13 fireplaces. In total the complex comes with a large reception room, extensive public areas including a formal dining room and fully fitted chef’s kitchen,   seven bedrooms, 5.5 bathrooms, two guest suites, a library,  a photographer’s studio as well as a fully finished basement.

In recent years Annie Liebovitz has been under some financial pressure after she was the subject of a breach of contract lawsuit  filed against her by the Art Capital Group. The lawsuit was raised as a result of a dispute over the terms of a loan that Ms. Leibovitz had taken from the Art Capital Group, for which she had put up both the townhouse complex as well as her photo archives up as collateral. At one time have financial difficulties were so severe as that Ms. Leibovitz was reportedly considering filing  for bankruptcy.

Thankfully an arrangement was breached with the Art Capital Group, and they withdrew their  lawsuit as well as considerably the due date for repayment of the remainder of the $24 million loan.

With her property now sold, Ms. Liebovitz will hopefully be capable of clearing off any outstanding debts, and moved to a small property probably in uptown Manhattan.

 

Anna-Lou “Annie” Leibovitz recalls that her love for photography began to form when she traveled extensively as a child with her family because her father was a lieutenant colonel in the U.S. Air Force. And he recalls taking her first pictures the family were living in the Philippines during the Vietnam War

During her teen years Annie began to develop her artistic ability the number of directions, including writing, painting and playing music. Between 1969 and 1970, she spent several months living in Israel on a kibbutz in the Galilee region of the country.

After returning to the United States in 1970, Anna Leibovitz began her professional career in earnest, working as a  staff photographer, for the newly launched Rolling Stone magazine. One of the first major assignments was to photograph the Rolling Stones when they appeared in San Francisco both in 1971 and 1972.

In 1973, being named chief photographer for the publication by its owner Jann Wenner, a post she would make her own for the next 10 years, and enjoying the opportunity to  photograph all of the leading  celebrities of the pop world for the Rolling Stone look

Out of the many hundreds that Annie Leibovitz took  during her 13 years with  the Rolling Stone magazine was the renowned photo shoot  in 1980 with the late John Lennon and his wife Yoko Ono, which is regarded as being among the icons of pulp photography.

In 1983, Ms. Leibovitz left the Rolling Stone to become a  totally freelance photographer and has enjoyed international recognition ever since.

In 2009 Annie Leibovitz  was the recipient of  the Royal Photographic Society’s Centenary Medal and Honorary Fellowship (HonFRPS) in recognition of her sustained and, significant contribution to the art of photography.

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Annie Leibovitz's Manhattan House

 

http://www.bhsusa.com

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