Accessories exec hopes buyers consider his Upper East Side home a gem

Reed Krakoff, a former creative director at Tiffany & Co., has listed a gem of a mansion on the Upper East Side.

It’s the latest bid by the executive to score a huge profit from the sale of an uptown townhouse, though it comes amid signs that the 5-story red-brick property, which once housed the New York Observer, might be yesterday’s news.

The house, at 54 E. 64th St., is a 25-foot-wide offering with six bedrooms, six full baths and five half-baths, plus a landscaped roof. It first hit the market in September at $48 million, but no buyer bit. The brokers recently slashed its price to $42

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