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Arlene Farkas's River House Co-Op Finally Sells for $7.8M

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Pigs aren't flying and hell hasn't frozen over, but a real estate move we never thought would happen has come to pass: Arlene Farkas's long-suffering River House condo, on the market for nearly eight years, finally sold.

The Wall Street Journal reports that the 14-room, 5,000-square-foot apartment finally found a buyer who also passed muster with River House's notoriously picky co-op board, which has approved the likes of Uma Thurman and Henry Kissinger, but denied Diane Keaton and Joan Crawford. According to the Journal, the Midtown East building "has taken steps to be more welcoming to brokers and buyers, especially younger buyers with families," who may be tempted to move to flashier, less persnickety residences nearby. The board also recently moved to renovate the stodgy River Club, which has also fallen on hard times in the past few years.

So who's the lucky buyer? Billionaire investor Wilbur L. Ross Jr., who apparently tried to buy at River House once before in the '90s, but was denied. He told the Journal that Farkas's apartment "has spectacular views and great bones." The final sale price was $7.8 million, which is a far cry from the $15 million that the duplex was originally listed. It's also lower than the $8.95 million that the home was reportedly commanding back in October; that deal, with an unnamed buyer, was rejected by the board and Ross swooped in, giving the long, strange saga of this embattled apartment a (somewhat) happy ending.

· Opulent River House Co-Op Is Finally Sold [WSJ]
· Arlene Farkas's Embattled River House Co-op May Finally Sell [Curbed]
· All River House Coverage [Curbed]

River House

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