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11 Spring Chopped Again: $26M for Nolita Mansion

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It's another round of PriceChops (and a new broker!) for polished Nolita gem 11 Spring, where the plan of restoring the famed Candle Building and carving it up into three ultra-expensive condos is looking positively Chupilike. The building's future is now in the hands of Elliman broker-to-the-stars Leonard Steinberg, and the price tag on the trophy is down to $26 million from the recent ask of $29.5M and the original $39.9M. If broken up, the penthouse would now run you $14 million, a PriceUpper from its most recent price of $13.1 million (though still down from the original $17.5M). The madness continues from there, with the lower triplex now commanding less than half of its original price at $7.5 million. The two-bedroom "loft" unit wedged in between is once again off the market. (A recent 11 Spring breakdown is right here.) Steinberg tells the Observer's Max Abelson: "I think there is a much better chance for these homes to trade. We shall see!" Hope springs eternal at #11.
· Candle Building at 11 Spring, Once $40 M. in Better Times, Now $26 M. [NYO]
· Listings: 11 Spring [StreetEasy]
· 11 Spring Street coverage [Curbed]

11 Spring Street

11 Spring Street, New York, NY 10012