Dakota co-op price cut: Tribeca Film Festival co-founders slash asking price to $15 million

Jane Rosenthal and Craig Hatkoff, the co-founders of the Tribeca Film Festival, have re-listed their Upper West Side Dakota co-op for $15 million, a $4 million cut from last year and a $24 million drop from the original 2016 asking price. The new price underscores ongoing softness in ultra-luxury Manhattan real estate and a shift in demand for landmark co-ops with historic cachet.

The listing covers the Dakota residence that spans the building’s eighth floor. The property comprises a 7,500-square-foot layout that includes a 6,000-square-foot main dwelling and roughly 1,500 square feet of flexible space across the hall. The unit offers five bedrooms, eight bathrooms, 19 park-facing windows and four exposures, along with period features such as 11-foot ceilings, coved archways, a formal dining room and two wood-burning fireplaces. The kitchen and other spaces showcase the kind of grand, proportioned rooms that helped define the Dakota’s history. The listing is handled by Benjamin P. Dixon of Douglas Elliman, who described the property as having Central Park frontage that is unmatched by any other residence in the building.

The Dakota building, completed in 1884, was among the first luxury apartment residences in America, signaling a shift from mansions to more compact, amenable layouts for wealthy residents. Its architecture—Gothic and Renaissance Revival—in addition to the building’s lore, has made it an enduring symbol of New York glamour. The site is perhaps best known as the place where John Lennon was assassinated in 1980, a moment that has become part of the building’s storied reputation. Over the years, the Dakota has housed a who’s who of notable residents, including Roberta Flack, Boris Karloff and Lauren Bacall, contributing to its aura of old New York prestige.

Rosenthal and Hatkoff, who were married for 19 years before divorcing, co-founded the Tribeca Film Festival with Robert De Niro in the wake of the 9/11 attacks. The couple assembled the Dakota unit over three decades through about 20 transactions, turning a private residence into a landmarked home with a central park frontage. While the divorce was not the sole driver of the listing’s price trajectory, sources familiar with the matter say the couple’s split coincided with a broader cooling in the market for large, trophy residences and high-profile co-ops.

“The apartment was priced very high, and I’m not sure the Dakota has the same cachet it used to,” one industry source said. The listing represents a continued attempt to monetize a near-decade-long marketing cycle for a property that remains extraordinary in scale and provenance, even as buyers grow more selective about ultra-luxury offerings in Manhattan.

For buyers seeking space and grandeur, the Dakota delivers a rare blend of historic architecture and park-side exposure. The unit’s 130 feet of Central Park frontage, combined with its multiple exposures and 11-foot ceilings, offers a level of residence that is difficult to replicate elsewhere in Manhattan. Yet the market has moved toward newer, sleeker developments, and even iconic buildings face heightened competition from contemporary towers that promise more streamlined maintenance and amenity packages.

As Rosenthal and Hatkoff continue to hold the property jointly, the Dakota remains a powerful symbol of New York’s luxury real estate history, even as its price tag reflects a cautious market climate for large, legacy co-ops. The ongoing listing illustrates how even storied addresses must adapt to shifting demand and pricing pressures in today’s high-end market.