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Troubled 740 Park Ave Duplex Back With a $10M Price Cut

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What a long, strange trip it's been for the second- and third-floor duplex at 740 Park Avenue. The home was owned by embattled developer Kent Swig, who's been dealing with everything from divorce to being sued by his father-in-law (the two things are unrelated) in the past few years. But sources tell The Real Deal that Swig's ex-wife, Elizabeth, now owns the apartment thanks to help from her father, developer Harry Macklowe. The Park Avenue apartment could have been another casualty of the developer's financial woes—it's faced foreclosure for several years now—but Elizabeth seems to have retained control of the 16-room duplex. Not that it does her too much good: The pad was originally listed for $32.5 million by Brown Harris Stevens (coincidentally owned by Kent), but got a substantial price chop, and is now asking $22.5 million via Corcoran. A rep wouldn't comment on the price chop to TRD, but we can only imagine that Elizabeth might want to offload it as quickly as possible.

· Listing: 740 Park Avenue 2/3D [Corcoran via StreetEasy]
· Liz Swig's controversial Park Avenue pad now $10M cheaper [TRD]
· Kent Swig's 740 Park Apartment Listed for $32.5 Million [Curbed]