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Truly Bizarre Chelsea Hobbit Grotto Gets a Little Cheaper

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In a hole in the ground in West Chelsea there lived a hobbit... one presumes, because how else do you explain this incredibly strange garden duplex? (In reality, the place is the work of serial weird-apartment-designers Colin and Pamela Rath.) The uniquely laid out pad hit the market last June asking $4.15 million, and later had its price chopped down to $3.55 million. As of last week it has been pricechopped for a second time, albeit slightly, down to $3.37 million. That might still seem like a lot of money, but keep in mind that you can make some of it back by finding a subletter during the six months of the year that you'll be on a quest with thirteen dwarves and a wizard.

· Listing: 121 West 15th Street GDN-DPLX [Corcoran, via Streeteasy]
· 121 West 15th Street coverage [Curbed]