It’s back! Beleagured Police Building apartment re-listed for $19M

(credit: Douglas Elliman)

A converted gymnasium apartment in the Police Building at 240 Centre Street has just been relisted for $18.5 million, per StreetEasy records.

The unit was owned by the late former C0O of Bear Stearns, Alvin Einbender, who passed away in June 2016, according to the New York Times. He retired from the company in 1992.

(credit: Douglas Elliman)

Einbender first listed the apartment in 2008 for $30 million, which pretty much everyone said was wildly ambitious (especially considering the state of the market at the time). The price dropped and dropped — at one point sinking to $14.5 million — and the unit finally was taken off the market in 2014, with a listing price that was strangely higher than the original one at $31.5 million. Einbender paid $2.2 million for it and then poured $13.3 million into renovating it over four years with the architect Charles Gwathmey, according to Curbed.

(credit: Douglas Elliman)

The 6,600-square-foot pad on two floors was the building’s gym and it retains some of that character. It has four bedrooms, four and a half bathrooms, 25-foot barrel-vaulted ceilings, skylights and views of Soho from a private terrace.

Raphael De Niro and Michael Kotler of Douglas Elliman have the listing.

(credit: Douglas Elliman)
(credit: Douglas Elliman)
(credit: Douglas Elliman)
(credit: Douglas Elliman)