It’s difficult to imagine Brooke Astor rifling through the discount bin in white satin gloves. What then would the refined socialite and philanthropist think now that her Park Avenue prize just sold for half-off?
Astor cherished the 15th-floor duplex in one of the city’s most coveted co-ops–but then who wouldn’t love six terraces and five wood-burning fireplaces? Following her death in 2007, the estate, headed by her son, Anthony Marshall, listed the spread for a princely $46 million in May of the following year. The price fell from the sky slowly, and not always gracefully. It was chopped to $34 million in 2009, then to $29 million. Most recently it was asking $24.5 million, barely half the original ask.
Now Astor’s estate has accepted an offer in the high-teens, reports the New York Post.
Hold on, though, because 778’s famously picky co-op board could still reject the low-ball offer. Moreover, the estate is reportedly hoping something better will come along. Mr. Marshall is still heavily steeped in legal bills over accusations that he stole something in the order of $60 million from his mother during her lifetime.
Recently, the coveted Buckley maisonette at 778 Park sold to a Rockefeller heir. The last asking price on the Buckley place was $10 million, down from $12 million. StreetEasy now shows the price as $8.75 million, yet another steep discount
It seems even blue bloods are bargain-hunting these days.
Would it have been one of the biggests sales of the year? Find out! >>
lkusisto@observer.com
