As prices continue to fall in Manhattan some truly gorgeous townhouses can be had for far less than they would have commanded a year ago. Today's home, a five-story townhouse on East 65th Street is nicely situated between Park and Lexington Avenue. The gated home was built by F. S. Barus in 1874 and has a classic brownstone facade. It has been updated with an elevator, central heat and air-conditioning, security and an irrigation system for the garden, terrace and roof garden. The striking entrance hall features a black and white marble floor and vibrant tomato-colored walls. The sunny lemon-colored dining room has a pair of skylights and French doors that lead to the garden. It is next to the kitchen which was designed by Wolfgang Puck. Upstairs there is an elegant and feminine celery and salmon living room, a navy-walled library, wet bar and large terrace overlooking the garden. The master bedroom is on its own floor with a second library/large dressing room and marble bath. There are four additional bedrooms and baths, as well as a roof terrace with open city views and a temperature controlled wine cellar in the basement.

This amazing example of New York City life just had a price cut. Cityfile reveals that the home, owned by Paul Kerz, the former CEO of Health Management Systems, and his wife Corinne was once listed at $12.5 million it now skates under the all important $10 million mark at $9.95 million.