W
illiam Lauder, former executive director and long‑time chairman of Estée Lauder Companies, has sold his coveted co‑op at 998 Fifth Avenue for $37.5 million in an off‑market transaction reported by the Real Deal. The sale gives Lauder a $14 million profit over the $23.5 million he paid for the unit in 2017.

    The buyer is Evan Cheng, co‑founder and CEO of blockchain infrastructure firm Mysten Labs and former senior engineering executive at Meta. Cheng paid a premium for the four‑bedroom, five‑bathroom Unit 6W, which features an eat‑in kitchen, oversized windows, and sweeping views of Central Park and the Metropolitan Museum of Art.

    Lauder is actively downsizing his real‑estate holdings. He has listed a 12th‑floor apartment at 778 Park Avenue—once owned by former Revlon chief Ronald Perelman—for $25 million, a slight reduction from the $27 million asking price set last year. Lauder also owns two other units in the same building: one purchased in 2008 for $27.5 million (previously listed for $45 million but unsold) and another acquired in 2023 for $24 million.

    Beyond Manhattan, Lauder is pursuing a record‑setting sale in Palm Beach. He reportedly found a buyer for a pair of oceanfront parcels valued at $178 million, though the deal’s finalization remains uncertain. If completed, it would set a new benchmark for residential sales in Florida.

    In 2023, Lauder bought the adjacent estate from the Rush Limbaugh estate for $155 million, further expanding his portfolio in the area.