After price fluctuations, Gramercy Park townhouse enters contract

Former telecom mogul Michael Hirtenstein’s $20 million townhouse at 23 Gramercy Park South is in contract, the New York Observer reported. Hirtenstein purchased the house for $14.5 million in February 2007 and put it back on the market in July of that year for $22 million. In September 2008, while Hirtenstein bought and sold real estate elsewhere in the city, including an $11.495 million condominium at The Plaza, the price of the Gramercy Park South townhouse went up to $25 million. It was cut back to $22 million in November and to $20 million in February.