For every burrito, there is a point where the tortilla just can't hold any more beans, rice, avocado, or cheese. So too is there a breaking point for the Greenwich Village real estate empire of burrito magnate M. Steven Ells, Chipotle founder and co-CEO. And the salsa is dripping out now, folks. Ells has ditched one-third of his co-op/condo/townhouse trifecta, the Observer reports, selling his seventh-floor apartment at 147 Waverly Place for $6.1 million. Ells only paid $5.65 million for it in 2008, but he was trying to flip it for as much as $7.25 million at one pre-meltdown point, so we can't deem this one a total win. The buyer is Sam Frankfort, son of Coach CEO Lew Frankfort. Think he got chips and guac with that?
· Coach Kid Gobbles Up Chipotle Loft [NYO]
· 147 Waverly Pl. #7 [StreetEasy]
· Chipotle Founder Assembles Village Empire Like a Tasty Burrito [Curbed]