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Fashion designer Elie Tahari spent more than 12 years securing the rights to build an additional two stories atop his penthouse on New York’s Fifth Avenue. Now that he’s got approved designs, he’s looking for a partner willing to invest $35 million to complete construction.

Mr. Tahari has secured the necessary permission from New York’s Landmarks Preservation Commission and the Department of Buildings, and has just begun building the addition, said real-estate agent Benjamin Benalloul of Town Residential, who with colleagues…