Going down in a “Blaze of Glory”: Bon Jovi takes Soho penthouse off the market

From left:
From left: Jon Bon Jovi and images of his 158 Mercer Street listing

Looking to live like a rock star in Soho? If so—and if you can afford a multi-million dollar penthouse—it looks like you’ll have to wait. Proud New Jersey son Jon Bon Jovi—who has long made a loud statement with his music—quietly took his nearly $40 million penthouse at 158 Mercer Street off the market last month.

The rocker has spent several years trying to sell his 7,452-square-foot home. In 2011, the rocker quietly listed the duplex digs, asking a cool $45 million. When he didn’t get any bites, he relisted the spread last March for $42 million. This past September, still in search of a buyer, he cut the price to $39.9 million.

Corcoran Group power duo Deborah Grubman and David Dubin had the listing. Grubman declined to comment and Dubin did not immediately return an email seeking comment. Bon Jovi himself could not immediately be reached.

The apartment comes equipped with two kitchens, three terraces, 11-foot ceilings and a private screening room, according to the listing. There are five bedrooms, each with their own bathroom.

Leonard Steinberg of Douglas Elliman, who was the listing agent for the penthouse when Bon Jovi bought it for $24 million in 2007, said he felt the home was priced on the higher side.

“I feel certain the sellers and brokers thought so, too, and pushed pricing knowing the owners were not in a hurry to sell,” Steinberg said. “This can work in a rising market, and last year the market was rising swiftly on the high end.”

He predicts that the brokers and sellers will re-list the home in the high-$30 million range–a more realistic figure based on recent signed contracts. 

“There are a number of penthouse apartments in the [$20 to $30 million range] and you must be priced competitively if you are serious about selling,” he said. “Now that [a] … buyer has more choices, it is easier to compare to gauge quality.”

Other broker sources who specialize in the city’s robust luxury market said the apartment has not yet sold because the resale market for high-end properties has softened. Not only is there a select segment of the population who can afford to buy such property, but new Mayor Bill de Blasio, who is determined to increase taxes on high-net-worth individuals, is deterring them from putting their money in the New York market, they said. Zachary Kussin

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