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River House Co-Op Review Upends Sale of Sad Pad to France

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It shouldn't come as a surprise that occupants of the notoriously chichi River House can be tony sale-thwarting imps. Case in point, the Journal is reporting that the building's co-op board has helped to turn back the sale of the beleaguered apartment of Arlene and Bruce Farkas, an estranged couple who've watched the duplex languish on the market for the last six years following an 18-year divorce settlement. The first bite in a sea of receding asks came from France, no less, who's looking for a new home for their United Nations ambassador amidst unloading other palatial, pricey real estate throughout the city.

The Journal reports that sale disintegrated following the appeal of socialite Elizabeth R. Kabler, the apartment's across-the-hall neighbor, who argued that the building shouldn't allow residents who are "beyond the reach of the law." In making sure that the apartment's new resident would perform as expected, the co-op board attempted to restrict the occupant's sovereign immunity, and stipulate the amount of armed guards, parties and guests the new occupant could have. Sovereign immunity and guards with guns were the first concessions to be agreed upon. Parties, however, were non-negotiable.

Since the snagged agreement, the apartment that sold to France for $7.8 million in May has since re-appeared on the market for an $8.2 million ask. Perhaps the jovial nation should consider looking in Brooklyn, where house parties are still welcome.
· Manhattan Co-Op Review Foils French Buying Bid [WSJ]
· Listing: 432 East 52nd Street #4/5E [Sotheby's]
· Heavily Discounted River House Co-Op Finally Finds a Buyer [Curbed]
· All River House coverage [Curbed]

The Riverhouse

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