The stodgy, exclusive River House may be loosening up a bit, but a foreclosure auction still would have been a blow to its reputation. But thankfully, the 18-room home of Arlene Farkas, estranged wife of department store heir Bruce Farkas, will not hit the block. Last week, someone new agreed to buy the sad pad for "a very good price," and the contract should be signed this week. The home hit the market in 2008 for $15M, and it was appraised at $8.5 million. [NYT; previously]
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