Reed Krakoff has scaled down from a townhouse to a penthouse. The former creative director of Tiffany, who left the jewelry company last year after its acquisition by French conglomerate LVMH, has purchased a 2,600-square-foot aerie at 1115 Fifth Ave. The sale price on the unit, which Krakoff bought with his wife, interior designer Delphine, was about $6 million, according to tax records that appeared online Friday.

But Krakoff, who made his name in fashion as the creative director of Coach—and has made tens of millions of dollars flipping high-end New York real estate—apparently did not have to sell in order to buy.

His former townhouse at 54 E. 64th St., off Park Avenue, remains on the market a year after being listed. Its asking price is now $42 million, down from $48 million last September.

Meanwhile, Krakoff’s new apartment, No. PHA, has three bedrooms, three and a half baths and sweeping views of Central Park’s Jacqueline Kennedy Onassis Reservoir from tall windows. Another feature is a library with a gold-painted dome ceiling and a fireplace. The sale of the apartment, which sits atop a prewar 14-story building at East 92nd Street, caps a somewhat tortured marketing history.

Brokers first unveiled it in 2015, at $15 million, and it has bounced on and off the market in the seven years since, according to listings website StreetEasy. Its sale price represents about a 60% discount over the initial ask. The seller, according to records, was Eleanor Jackson Piel, a civil rights lawyer who once served as a deputy attorney general of California. Her husband, Gerard Piel, the former publisher of Scientific American magazine, died in 2004.

In a way, the purchase at 1115 Fifth represents a major downsizing in scale and price for Krakoff, who has bet on a string of trophy homes in the past. A townhouse at 157 E. 61st St. that he snapped up in 2001 for $4 million was sold six years later to Roger Waters of Pink Floyd for $15 million. Likewise, a townhouse at 113 E. 70th St., which cost Krakoff $17 million in 2006, sold for $51 million in 2014, records show.

The Krakoffs also own a striking spread in New Canaan, Conn., a chateau-style retreat with nine bedrooms and 11 fireplaces, according to a 2017 profile in Architectural Digest. Neither Krakoff nor Regis Roumila of Roumila Real Estate, the agent who handled the property, could be reached by press time.