Oaktree Capital’s Bruce Karsh Buys Again in West Village

Oaktree Capital Management co-chair Bruce Karsh could be joining the wave of West Village townhouse owners combining properties.

Karsh purchased the property at 15 Bank Street for $28 million, the New York Post reported. The investor and his wife, Martha, went into contract for the property in January, when the asking price was $30 million.

Karsh is no stranger to the West Village. Six years ago, he purchased the townhouse next door, at 13 Bank Street, from disgraced movie mogul Harvey Weinstein for $25.6 million.

The dual purchases should allow Karsh to combine the townhouses, which could cost tens of millions of dollars. Melding together two properties is a controversial practice in New York City; while it creates more of an ultra-luxury product for the wealthiest of buyers, critics argue that the optics of taking up space that could otherwise potentially be used to ease the housing shortage is ugly.

Arguably the best known example is the megamansion project on West 11th Street steered by celebrities Sarah Jessica Parker and Matthew Broderick.

Karsh did not comment to the Post on his plans for the adjacent homes. Corcoran’s Deborah Grubman, who had the listing of 15 Bank Street, also declined comment.

The townhouse is 22 feet wide and spans 6,000 square feet, meaning Karsh paid $4,667 per square foot for the property. The home was built in 1910 and has since been renovated. The five-bedroom pad features an elevator, a landscaped garden, a living room with a fireplace and floor-to-ceiling windows. The basement also has a gym and laundry, so Karsh doesn’t need to schlep his delicates to the local laundromat.

The co-founder of the Los Angeles-based company sold his Beverly Crest mansion last year for $38 million. The estate had been on and off the market since 2020, when it was listed at approximately $60 million.

— Holden Walter-Warner