East Side Sell-Off

Matthew Bronfman is getting serious about selling his ornate, 25-foot-wide townhouse at 7 East 67th Street, and has just knocked $3 million off the asking price. The five-story residence first listed in August 2002 for $27 million, and now the Seagram heir and brother of Warner Music chairman Edgar Bronfman Jr. (who had been listing his $40 million trophy mansion nearby on East 64th Street) has decided to reduce the price by more than 10 percent in hopes of finding a buyer to take one of Manhattan’s poshest mansions.

“It’s an amazing opportunity for someone who wants to buy,” said Mr. Bronfman’s broker, Sami Hassoumi of Brown Harris Stevens.

Up until July, Mr. Bronfman had been renting an apartment on Park Avenue, but according to Mr. Hassoumi, he has recently moved back into his luxurious townhouse now that the renovation by the noted interior designers, the M Group, is complete. The 14,000-square-foot mansion has six bedrooms and museum-quality details, including a floating staircase, double-high maple paneling, a roof deck and a private rear terrace with an outdoor fireplace.

Mr. Bronfman purchased his townhouse for a relatively modest $3 million in 1994, and then went about a two-year gut renovation that cost a reported $19 million. The apartment landed back on the market at $27 million in 2002.

Now that tout New York has trundled back to Manhattan following the Labor Day exodus, Mr. Bronfman’s listing is the first major real-estate move of the often fast-paced autumn selling season. And it comes at a time when there is a dearth of inventory in the trophy-home market. Among the Upper East Side mansions asking in excess of $20 million are the neo-Federal townhouse at 16 East 64th Street, which is asking $27 million, and corporate real-estate titan Kenneth Laub’s four-story red brick townhouse at 163 East 64th Street, which is currently on the market for $23 million.

“The inventory for trophy homes is tight,” Mr. Hassoumi said. “This is a truly rare opportunity.”

Scot Armstrong, the celebrated screenwriter of slapstick comedies Old School and Starsky & Hutch , recently traded up his own downtown digs. Last year, Mr. Armstrong purchased a fifth-floor loft on East 11th Street for $1.34 million, city records show. But the talented screenwriter didn’t have to move far, as he was already living in the building.

“I lived on the third floor and relocated when my neighbors moved. I just loved their place,” Mr. Armstrong told The Observer .

And there’s a lot to love.

The full-floor loft covers 2,000 square feet and has two bedrooms, two bathrooms, a chef’s kitchen with skylights that open at the touch of a button and a 2,000-square-foot landscaped rooftop. Mr. Armstrong shares his East Village spread with his girlfriend Kerry and their golden retriever Dewie.

Tanner Garland, a vice president with Stribling and Associates, had the exclusive listing.

And even though his films have grossed millions, Mr. Armstrong remained modest about his newly acquired downtown loft.

“The only reason I can afford to live here is because it’s a five-floor walk-up,” he said, speaking about his building that sits between First Avenue and Avenue A.

In addition to his recent credits, he also penned Road Trip in 2000. Now Mr. Armstrong is hard at work on a comedy about the ill-fated American Basketball Association for New Line with his co-writer Todd Phillips.

As he put it, “It’ll be in the vein of Slap Shot .”

Recent Transactions in the Real Estate Market

Greenwich Village

111 Fourth Avenue

One-bedroom, one-bathroom co-op.

Asking: $575,000. Selling: $608,000.

Maintenance: $951; 50 percent tax-deductible.

Time on the market: one month.

FOCUS ON FOURTH Recently, the owner of this one-bedroom loft decided to trade his prewar co-op near Union Square for laid-back borough living in Park Slope. The gentleman, who runs a nonprofit focused on radio programming, found a similarly creative buyer who works at indie-film juggernaut Focus Features. The buyer, who handles Focus’ international distribution, fell for the spread and paid $33,000 over asking on the place. The well-appointed apartment has 13-foot ceilings, a windowed home office, hardwood floors and oversized windows, in addition to the building’s roof deck and full-time doorman. Nancy Van Bourgondien of the Corcoran Group represented the seller; fellow Corcoran broker Ingrid Cohen represented the buyer.

East Side Sell-Off