NEW YORK (AP) -- The Kennedy mystique could drive the price of John F. Kennedy Jr.'s TriBeCa loft to $2.5 million or more, or at least his estate reportedly hopes so.
The Manhattan property, in a nondescript former commercial building, is being sold by Sotheby's International Realty via sealed bid.Mary DiLandro, director of public relations for Sotheby's realty, declined to discuss the asking price for the Kennedy loft Tuesday beyond saying it was in line with other properties in the trendy TriBeCa neighborhood.
But Barbara Corcoran, chairwoman of The Corcoran Group, which often handles high-end deals, said the minimum asking price is $2.5 million and his estate hopes for $4.4 million.
An identical loft one floor below sold for $1.1 million this summer, Corcoran said. Kennedy bought his loft for $700,000 in 1994.
TriBeCa (the nickname comes from the phrase "triangle below Canal Street") is a former industrial area of 19th century warehouses, factories and lofts whose facades belie the luxury conversions within. Actor Robert DeNiro and other notables live in the area.
Kennedy; his wife, Carolyn Bessette Kennedy; and her sister Lauren Bessette were killed in July when the plane Kennedy was piloting crashed off Martha's Vineyard.
DiLandro said the sealed-bid auction will continue until Kennedy's estate accepts an offer for the 2,400-square-foot open loft.