Brooke Astor's Apartment Price Drops 37% (SLIDESHOW)

There's a Brooke Astor fire sale!

The asking price for the Park Avenue home of the late New York City socialite Brooke Astor was slashed 37% to $29 million.

Stribling took over the listing from The Corcoran Group last month, and proceeded to chop $17 million off the original $46 million asking price.

The 14-room property, which has been on the market since May 2008, features five bedrooms and four-and-a-half baths.

It occupies the entire 16th and part of the 15th floors of 788 Park Ave., and also boasts six terraces, five fireplaces and views of Park Avenue and Central Park.

The Astor property is not the only luxury residence to reduce its price: At 15 Central Park West, a penthouse on the 40th floor is now asking $47.5 million, down 40% from the $80 million it was originally put on the market for back in July 2008.

What's more, an apartment in the newly renovated Plaza is now $38 million after it was listed in September for $55 million.

Meanwhile, a 14-room property in the Dakota, the Central Park West building made famous with the death of John Lennon, is now asking $19.5 million, down 19% from $24 million in June.

• • • • •

The apartment belonging to Brooke Astor, the famous New York society doyenne who passed away in 2007, has been reduced 37% to $29 million. The unit was originally put on the market for $46 million in May 2008.

Comments

[peachfuzz]

4rth pic, left lower corner -- what is that CUBE thing?
Looks like a crate of split logs for a cabin.

[Wordstosay]

I love the one of the bedrooms does it exit on a terrace if so that is so perfect...­need to win the lottery for this one...

[Trogenhorse]

The home looks like someone from another time and place decorated it- and that's exactly what happened. The woman deserved to have her home in whatever fashion made her comfortable. I don't dislike all rich people. Trueth told I hope I have some wealth one day. But lying, cheating, and abusing your fellow man is not the way to get it.
In many aspects, we have some blame of our own. We treat people with money much differently in this country.
Front of the line for movie openings, restuarant opening, political events, etc. We even stand on sidewalks for hours and hours to watch them "parade in " at the oscars. We allow ourselves to be bumped in service to accommodate the "celebrity of the day".
There are some lessons we should all learn here:
1. famous cafes and resturantes can not survive on celebrity status only so stop accepting so treatment- especially in New York
2. Personal service sector makes money on the masses of people who buy them so stop paying out of control prices for something not worth it.
3. Treat each person with respect and kindness- not status.
I hope the days of 29 million dollar apartments come to a complete end and business functions in a way that is fair and just period.

[SgtLazarus]

The world's working poor and middle class have been brainwashed to believe that the "high & mighty" deserve these ostentation and opulence. We all deserve the mess we are in.

[SteveDenver]

With that price drop, I'll make a down payment with my AIG retention incentive check. Everything has got to go! Here I come IKEA.

[philipwitak]

the astor place may be big and feature six terraces and five fireplaces but almost no architectural or aesthetic embellishments on the ceilings - and in an environment of such large spaces, that's a whole lot of nothing going on in each room.

[scottriviera]

What a dump...i'v­e seen nicer track homes in Fresno, Ca. (ewww)

[politigal]

Still not a deal- the new owner will easily be kicking in the 37% "saved" to renovate the place.

[johnnygoodwud]

money does not buy taste or style.

[britinnica]

I AM CERTAIN RUTH MADOFF CAN AFFORD TO BUY THE ASTOR PLACE!

[Strywever]

What an over-decorated nightmare. (Seriously -- I've never seen such overwhelmingly busy and stress-inducing decor in my life!) I guess money doesn't buy taste.

[MadeinAmericaProud]

I was thinking the same. You expressed it so well. Thank you.

Well we are at. Can we get this old girl a makeover. She truly needs the less is more model in the lips and cheeks and just thin line on eyeliner. After a certain age, rose cheeks no matter what skin tone should no longer be on your shopping list. (take away from the rose cheek counter)

[AsISaid]

She's dead.

[picard922]

Thankfully dear Mrs. Astor is dead. Her circumstances were greatly diminished by the venality of her only son in her latter years. She does not need to see this.

[davidwayneosedach]

If I win the lottery I promise not to be any of them!

[ImaSpeakonit]

Why is the most expensive stuff often the most tackiest? That place is hideous!

[MadeinAmericaProud]

Someone told it was the rich person thing to do. They believed it.
How do think madoff was so successful. He told people what they so desperately needed to hear.
It works every time.

Start with the Basic $sucker$ game. One man junk is another man treasure. Why? Someone told them the junk had value. So and so own it at one time or another. Now it has grown in value.

No one thinks, if so and so thought it lost its value, why should I pay a lot of money for it now. The game continues. Because I can find another $ucker$ to buy it for more.

[BannedInBoston]

Times are tough all over, heh.

[jdw1981]

It's getting SO hard to afford white truffles these days..