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Ex-Hip Hop Exec Ready to Leave American Thread for $7.9M

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The brokerbabble tells us penthouse 11C at 260 West Broadway's American Thread Building was "Designed for Royalty," which immediately got us curious. The Royalty in question appears to be former hip hop exec and Jay-Z buddy Stephen J. Soute, who purchased the apartment for a bit over $3 million in 2001. In March, he wanted $9.5M for the 3,580 square foot 3BR, 2.5BA. Now the price is down to $7.9M. Does Stoute need out, or has he just been inspired by his friend Damon Dash to get rid of his material possessions?

And the floorplan:

· Listing: 260 West Broadway PH11C [Modlin Group]