The Real Deal New York

Demi Moore slashes price of San Remo penthouse by $16M

Property has languished on the market for more than a year

June 15, 2016 04:35PM
By Katherine Clarke

Demi Moore at Time 100 Gala and her penthouse at the San Remo (Photo credit: David Shankbone via Wikipedia)

Demi Moore at Time 100 Gala and her penthouse at the San Remo (Photo credit: David Shankbone via Wikipedia)

The $75 million price tag on Demi Moore’s palatial spread at the San Remo may have proved an “Indecent Proposal” for prospective buyers.

That might explain why the “Charlie’s Angels” star has slashed the asking price by a whopping $16 million, bringing it to a potentially more palatable $59 million.

Moore has owned the 7,000-square-foot pad since 1990, when she and former beau Bruce Willis bought it from “Saturday Night Fever” producer Robert Stigwood. It’s been sitting on the market for over a year.

The current record sale for an apartment in the building, at 145-146 Central Park West, is just $26.4 million.

“We looked at everything on the park, Fifth Avenue, Central Park South and Central Park West, and there was just nothing like it,” Moore told the New York Times in an interview last year. “The location, architecture and history of the San Remo were on a completely different level.”

Moore told the Times she was selling the property because she wasn’t spending enough time there.

“This apartment is too magnificent not to be lived in full time,” she said.

The six-bedroom, triplex apartment comes with 1,500 square feet of wraparound terraces as well as a lobby-level, two-bedroom maisonette. Moore currently pays more than $20,000 a month in combined maintenance fees for the two units.

Listing broker Adam Modlin, the president of the Modlin Group, declined to comment on the price cut.

But the slash comes amid rumblings that the luxury market is actually starting to show signs of life after a slow start to the year.

While contract activity is still significantly below last year’s levels, the weekly number of contracts signed on Manhattan properties above $4 million has been gradually increasing since February, according to reports by Olshan Realty.

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