They say that staging an apartment is a sure way to fetch a higher price. So imagine the markdown that Aby Rosen would have taken on his penthouse at 350 West Broadway if he hadn’t decorated the walls of the building with his personal art collection.
Records show that the 5,912-square-foot spread has sold for $17.56 million, which looks impressive by itself and not bad compared to the most recent $20.65 million asking price. But consider that the sponsor-unit was asking $26 million when it came on the market in December 2009. Either Soho’s appeal is dwindling in inverse proportion to the hordes of shopping bag-toting tourists mobbing the streets or real estate there isn’t quite as valuable as Mr. Rosen had hoped. Read More