New York’s most expensive listing just had a $24M price cut

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Back in April, when a duplex at the Rosario Candela-designed 834 Fifth Avenue hit the market asking for a jaw-dropping $120 million, we were pretty dazzled.

Now, the 12,000-square-foot co-op is on sale, for $96 million. What a steal.

The palatial 20 room spread belonged to late financier John Gutfreund aka the “King of Wall Street” and his wife Susan. It has five bedrooms, nine bathrooms, 24-foot ceilings, original moldings, a marble staircase, and a library lined with 17th Century leather walls. Plus included in purchase price are an outside chauffeur’s room, and a room-sized fully fitted wine cellar.

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According to the Observer, 834 Fifth Avenue – which was once described as “the most pedigreed building on the snobbiest street in the country’s most real estate-obsessed city,” has a notoriously difficult co-op board, and reportedly don’t accept any financing. Take a look at our Board Approved series to see who did manage to find their way inside.

Richard Ziegelasch and John Burger of Brown Harris Stevens and Craig Dix and A Laurance Kaiser, IV of Key-Ventures are sharing the listing. [Observer]

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