Former model turned Union Square Coffee Shop owner Carolyn Benitez and her music producer husband, Jellybean Benitez, put their Gramercy Park townhouse on the market earlier this month for the low, low price of $25M, and despite the glorious park-front location, there are a few catches. While the interiors of the 1856 structure look well preserved, the floorplan has been broken up into three units, an owner's triplex on the first three floors and two duplexes, one north and one south, on the upper floors. Oh woe of woes, the prized north duplex—that's the one with views of the Park—is occupied by one of those pesky rent-controlled tenants, meaning a conversion back to single-family is unlikely for the time being. Perhaps that's why Carolyn and Jellybean—who, by the way, once dated Madonna, scored Back to the Future, and produced for Whitney Houston—have decided to move on. Jellybean, who bought the place way back in 1992, stands to make a handsome profit off his investment.
· 11 Gramercy Park [Modlin Group via Streeteasy]