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Fashion Mogul Cuts the Price of Renovated Pierre Pied-a-Terre

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Honorary Valentino president Giancarlo Giammetti picked up this little 2BR, 2BA pied-a-terre at the Pierre for $7.5 million in 2007. A renovation upped the luxury at the place with silk upholstery in the master bedroom, marble baths, and floor-to-ceiling custom bookcases. All leading to a pretty sizable flip attempt: Giammetti relisted the apartment?which has access to hotel services?for $12.5 million nearly a year ago. But even the cerused oak walls haven't sold the place at that price, and it's now 14 percent cheaper. The $10.8 million price tag is still a hefty one, but hey, everybody loves a discount, right?
· 795 Fifth Ave. #3804 [StreetEasy]
· Fashion Mogul Lists Last Season's Pierre Pied-a-Terre [Curbed]

The Pierre – A Taj Hotel

2 E 61st St, New York, NY 10065