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CHUPI IN CRISIS: The State of the Palazzo Address

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Friends, we are in denial no longer, and it is time to face our demons. And so, we must?we must?ask: What the heck is wrong with Palazzo Chupi? Artist/filmmaker Julian Schnabel's big pink lightning rod in the Far West Village (360 West 11th Street, to be exact) appears on the surface to be going through turbulent times. The mini-tower still hasn't sold all of its five units, but that's just the beginning. A recent history:

1) After trying to market the can't-miss building in-house (and after some initial success?selling to Richard Gere and banker William J.B. Brady), Schnabel hired a broker. When the two remaining apartments still failed to sell, he switched teams and cut the penthouse price. It remains unsold.

2) The duplex, Apartment #4, is still M.I.A., having never resurfaced following the broker switch. Did it sell? All signs point to no, but we await comment.

3) Richard Gere, who bought the full-floor #2 for $12 million, is approaching Day 150 in his attempt to flip the 3,500-square-foot apartment for $17.995 million. Is a huge PriceChop far behind? Is it?!

4) And now, the most troubling bit of news so far. It has come to our attention, via reliable Curbed sources, that the doorman is giving tours of the building to curious passersby. Repeat: Palazzo Chupi staff, perhaps out of boredom due to lack of activity inside the building, is letting plebians inside the hallowed halls of The Chupster. Certainly, that is not Chupirrific. The magic words: Just ask to see the swimming pool. Go ahead, try it.

What to make of all this turmoil? We're not quite sure. But as the biggest Palazzo Chupi fans on the planet (the universe?), we must relent: Chupi. In. Crisis.
· Curbed's Palazzo Chupi coverage [Curbed]

Palazzo Chupi

360 W 11th St, New York, NY 10014