Music business bigwig Clive Davis has chopped over $800,000 off the worth of his three-bedroom co-op on the Ritz Tower in Manhattan.
The worth was lowered by 10% final week to $6.995 million, a number of months after Mr. Davis put the renovated and meticulously designed duplex available on the market for $7.eight million, in line with itemizing data. Mr. Davis, 85, a Rock and Roll Corridor of Fame member credited with launching the careers of Whitney Houston and Barry Manilow, is the chief artistic officer at Sony Music.
The music producer, who’s touched the careers of scores of hitmakers throughout genres from Aretha Franklin and Bruce Springsteen to The Grateful Lifeless and Alicia Keys, has owned a lot of models within the Park Avenue constructing over the previous decade, in response to property data.
This specific house is a duplex crafted from two flats Mr. Davis purchased in 2015 for a mixed $three.four million, data present. Inside designer Greg Schriefer led the redesign that turned the 2 models right into a single “harmonious architectural triumph,” in response to the itemizing with Gina Sabio and Sherri Balassone of the Corcoran Group, and Eva J. Mohr of Sotheby’s Worldwide Realty.
The redesign features a grand coil staircase, overhung with a Lillian August chandelier, that connects the 2 ranges, Italian marble windowsills and herringbone wooden floors. Befitting a music mogul, the house was outfitted with surround-sound audio system all through.
The mixed house spans about 2,800 sq. ft and has seven rooms, together with a library, lobby with a moist bar and area to entertain, in line with the itemizing.
The brokers are advertising the low cost as a worth enchancment given at this time’s luxurious market circumstances.
Mr. Davis couldn’t instantly be reached for remark.
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