Gloria Vanderbilt's Old Upper East Side House Now $17M Less

It's been a little over two months since the former mansion of Vanderbilt heiress and Anderson Cooper's mother, Gloria Vanderbilt, went up for sale, but already the Upper East Side townhouse is dropping its ask—and by a lot, at that. A weekend pricechop of the four-story mansion on East 72nd Street brought its ransom down to $42 million from $59 million. Maybe the chop has something to do with the imminent work that lies ahead for whoever buys the landmarked townhouse; it's being sold by two developers who are reverting the multi-apartment building into a single family house that will be delivered as a white box with a new addition. The buyer will choose its finishes in a CetraRuddy-led overhaul, which in theory sounds great, but means that the townhouse won't be occupiable for a long, long time.

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· Listing: 39 East 72nd Street [KW via StreetEasy]
· Anderson Cooper's Mother's Former Mansion asks $59M [Curbed]
· All 39 East 72nd Street coverage [Curbed]