real estate discounts

Deep Discounts At The River House

Filed under: Estates

Here comes another huge New York price cut, a full $15 million. As the New York Observer's Max Abeslon reports, former WorldCom director has been trying for nearly five years to sell his home in the River House co-op on East 52nd Street in New York City. Galesi's 16-room duplex first hit the market for an astounding $50 million. The listing says that the duplex "gives the impression of a castle in Italy" but with amazing city views. The home has a large corner living room and a corner dining room which offer total frontage of 66 feet over the East River. There are eight bedrooms with two servant rooms. The Observer has the floorplan which shows that the master dressing room is bigger than both of the duplex's maid's rooms. The library has its own study but there is also a separate study upstairs and a sitting room. The home's 50 windows give it plenty of light. It is listed at $35 million. Now all the potential buyer has to do is pass muster with River House's notoriously strict co-op board.

This isn't the only River House apartment you can get for a discount. Another duplex in the building, the one belonging to producer Marty Richards, which was listed at $29 million in 2006 now sits at $18.9 million. It was nearly bought in 2008 by Elyse Kroll when it was for sale for $22.7 million but the board reportedly nixed the deal.

Gallery: Another Discount at the River House