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City's Third Priciest Listing Chops More Than $10 Million

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The house-turned-art gallery at 19 East 70th Street has seemed a little hesitant about this whole sales thing. It hit the market quietly on Christmas Eve with an asking price that was a bit of a reach: $59.5 million for a 20,575-square-foot property that would need substantial renovation to be turned back into a single-family home. But the house now appears fully committed to the effort to find a buyer. The folks at PropertyShark tip us off that the building's price has been chopped about 18 percent, down to $49 million. The carnage has also moved it down a few places on the list of the city's most expensive properties for sale, from third place to seventh. Ouch! Unless there's a choppage epidemic, we're guessing it won't make the playoffs.
· Listing: 19 East 70th Street [Sotheby's]
· UES Art Gallery Takes Third Place in Priciest Listing Rankings [Curbed]