Greenwich Village's Red Room Tries a Price Cut to Find Buyers

What is it about red rooms? First there was William F. Buckley Jr.'s, which tried a $24.5 million asking price?and found a buyer only after it had PriceChopped all the way down to $10 million. Now there's 11 West 12th Street, the red room-containing Malcolm S. Forbes House. It hit the market in February with an ask of $15.25 million. But the home's fancy pedigree and wine cellar have failed to find it a buyer in the intervening months, and now the price is down to $13.5 million. Not quite PriceChopper Hall of Fame territory, but these things must be done slowly.
· 11 West 12th Street [StreetEasy]
· 11 West 12th Street coverage [Curbed]