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Damon Dash's Foreclosed Tribeca Loft Finds New Buyer

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It's been nearly two years since hip hop mogul Damon Dash lost his duplex at Tribeca's Atalanta to foreclosure. Platinum Capital's Edward Farrell spent $5.5 million on the apartment in a July 2010 foreclosure auction and decided to flip a few months later. Unfortunately, no buyer obliged, so he took the place off the market without a buyer until last fall, when he made another attempt to sell at a higher price of $8.25 million. A tipster points out that the apartment has just gone into contract. The most recent ask, after a chop in February, was $7.95 million. Which is around the price Farrell wanted when he first tried to flip in 2010. A win/win for buyer and seller?
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· Listing: Atalanta Building [Elliman]
· Damon Dash coverage [Curbed]

25 North Moore Street

25 North Moore Street, New York, NY 10013