City’s Record-Breaking Mansion Still Asking Too Much

The city’s most expensive residence, which sold to private equity guru J. Christopher Flowers for $53 million in 2006, is up for sale at a sharp discount.

If you’ve always wanted to own the pricey 50-foot-wide manse at 4 East 75th Street, but the extra $3 million was holding you back, the good news is even it’s not immune from the recession.  Mr. Flowers is quietly looking to sell the place for a few million dollars less than he paid for it, sources tell The Wall Street Journal. Yet even that remains too rich for buyers’ blood–even blue bloods–who are more interested in paying a paltry $40 million to $45 million.

The Harkness mansion is 114 years old, and at 22,000 square feet, it’s one of the city’s grandest. Even though the financier has never lived there, he’s poured millions of dollars into making the inside spectacular, which makes it even more puzzling those Scrooges won’t pony up the extra millions.