Top Walmart Exec Pays $43.79 Million for Swanky New York Penthouse

Marc Lore, head of Walmart's U.S. e-commerce business, paid roughly $43.79 million for a penthouse in 443 Greenwich Street, a building known for celebrity owners like Jennifer Lawrence. Photo: David Sundberg/ESTO/CetraRuddy

Katherine Clarke

The Wall Street Journal

Biography
@KathyClarkeNYC
Katherine.Clarke@wsj.com

Updated June 12, 2018 10:39 a.m. ET

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Serial tech entrepreneur Marc Lore, who currently heads Walmart ’s U.S. e-commerce business, is the buyer of a roughly $43.79 million New York penthouse, according to two people familiar with the deal.

Mr. Lore bought the unit through a limited liability company; the company closed on the purchase in late April, records show. Mr. Lore did not respond to requests for comment, and a spokesman for Walmart declined to comment. The buyer’s attorney declined to comment on the identity of his client, as did Mitchell Wasser, a spokesman for the developer, MetroLoft Management.

Mr. Lore founded Diapers.com in 2005, which he sold to Amazon in 2010 for $545 million. He also founded of Jet.com, an ecommerce site that was purchased by Walmart for about $3.3 billion in 2016.

Located in 443 Greenwich Street in Tribeca, the 8,569-square-foot unit has rustic wood beams, five bedrooms and its own private outdoor pool, according to listings website StreetEasy.

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Over the past several years, the building, a former book bindery, has become a hub for celebrity purchasers, according to people familiar with the building. Other owners at the property includes actor Jennifer Lawrence, according to people familiar with that deal.

Amenities at the building include a 71-foot indoor swimming pool, a children’s playroom, a roof terrace, a fitness center and a temperature controlled wine cellar. There is a parking lot beneath the building with electric charging stations.

Mr. Lore founded Diapers.com in 2005, which he sold to Amazon in 2010 for $545 million. He also founded of Jet.com, an ecommerce site that was purchased by Walmart for about $3.3 billion in 2016. Since taking on the role of president and CEO of Walmart’s e-commerce division in 2016, Mr. Lore, 47, has spearheaded the acquisition of several companies, including clothing retailers Bonobos and ModCloth. He also launched an in-house startup incubator at the retail giant.

Erin Boisson Aries of Christie’s International Real Estate represented Mr. Lore. The developer was represented by new development marketing firm Cantor Pecorella.

Write to Katherine Clarke at katherine.clarke@wsj.com

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