The Times' Josh Barbanel pens a wide-ranging "State of the Market" address today, combining the bad news of last week's first-quarter sales reports with the bad news of frozen credit with the bad news of job losses with the bad news of?well, you get the picture. Equally depressing: Barbanel's update on actor/singer/civil rights activist Harry Belafonte's legendary six-bedroom spread at 300 West End Avenue.
Belafonte and others famously bought the building in the '60s and turned it co-op after the landlord refused to allow black tenants. He combined two apartments into a massive full-floor family estate/party hall, lived there for 40 or so rabble-rousing years, then sold it in 2006 to Abigail Disney (Walt's niece) for $10.75 million. Disney ended up not wanting to get into a whole renovation thing, and re-listed it for $13.45 million. That didn't go so well. Now, Barbanel reports, she's found a buyer. Actually, make that two:
After a series of price cuts, Ms. Disney has finally found buyers for the property, for just under $7.5 million, a 46 percent discount from her initial asking price. But to make a deal she agreed to restore the walls and convert it back into two apartments and sell it to two buyers.A raid on our porn stash is a raid on our hopes, our dreams, our permeating aroma of joy (it's joy, we swear). Real estate meltdown?you've gone too far.
· As Some U.S. Markets Level Off, Housing Slump Hits Manhattan [NYT]
· Flipper Not The Hottest Attraction at UWS's Disney World [Curbed]
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