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Schnabel's Palazzo ChupiChopped Again, Kravitz Hits Bottom

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As Max Abelson reports in today's Observer, times are tough for Manhattan's highest-end real estate?the Chupster included. Julian Schnabel is bringing Palazzo Chupi's duplex and triplex penthouse to its third broker (its fourth representation if you count the FSBO effort), with a fresh round of price cuts accompanying the move. The penthouse, which originally hit the market last year at $32M but was most recently asking $24M, is now looking for $22 million. The duplex, the curious price history of which you can see above, is down to $19 million. Will it sell before we run out of room on the graphic? That's for the Far West Village to decide. Abelson also runs through some other high-profile pricechopping, but one celeb who has had enough with the shenanigans is Lenny Kravitz. In November his lovers' lair in Soho's 30 Crosby Street was slashed 20%, down to $14.995 million, and according to his broker that's as low as it will go.
· Mighty Bargains [NYO]

Palazzo Chupi

360 W 11th St, New York, NY 10014