Trophy-Property Tantrums

In mid-March, private

investor Peter Knobel sold his renovated mansion at 20 East 73rd Street for $17

million. The property is spectacular-a 22-foot-wide building located on a prime

block between Fifth and Madison avenues. And Mr. Knobel invested $7 million,

putting in a wine cellar and basement basketball court. But when he got such a Read More