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Steve Madden, founder and former CEO of the eponymous footwear label, has purchased a $12.2 million apartment on Manhattan’s East Side, according to people with knowledge of the deal.

The five-bedroom, 6½-bathroom home is located at 252 East 57th Street, a recently completed condominium project designed by architecture firm SOM and developed by World Wide Group and Rose Associates.

The apartment spans 4,624 square feet…