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Ex-Morgan Stanley CEO's Penthouse Gets a Big Price Cut

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Former Morgan Stanley CEO John Mack has been hiding out in this 3,650-square-foot duplex penthouse in the Lenori while he waits for the renovations to be finished on his East 70th Street mansion (featuring a 12-car garage), which he purchased for $13.5 million in 2009. But now that it's time to move out, Mack seems to be having more trouble unloading the Leonori penthouse than he thought he would. After listing it for $22.5 million in February, he's had to chop the price twice, once down to $19.5 million and now to $16.25 million. Perhaps the decor, which one commenter described as being in the "Early Grandma" style, is turning buyers off, or maybe it's just the fact that the apartment, which features a large terrace and solarium, was originally asking over $6,000 per square foot (it's now down to a more reasonable $4,452/square foot). Mack also switched brokerages, from Sotheby's to Elliman, meaning that we get some new pictures to gawk at, and, if we had to guess, we'd say that the man is running out of patience. Could further pricechops be in the penthouse's future?
· Listing: 26 East 63rd Street #12AF [Elliman]
· Former Morgan Stanley CEO John Mack Lists $22.5M UES Condo [Curbed]
· Morgan Stanley CEO No Longer Needs to Worry About Parking [Curbed]

The Leonori Condominiums

26 East 63rd St., New York, NY 10065