The Real Deal New York

“Scarface” producer chops price on Park Ave apartment

Martin Bregman’s pad has been discounted from $9.9M to $7.9M

November 03, 2016 10:30AM

417 Park Avenue and Martin Bregman

417 Park Avenue and Martin Bregman

The producer behind “Scarface” has taken a chainsaw to the price of his Manhattan apartment.

Martin Bregman — the legendary producer behind “Scarface,” “Dog Day Afternoon” and “The Adventures of Pluto Nash” — reduced the asking price of his apartment at 417 Park Avenue by $2 million, the New York Post reported.

Back in August, Bregman actually raised the price of the co-op unit to $9.9 million, after it had sat on the market for 211 days. But, perhaps unsurprisingly, the price hike didn’t spur any buyers into action.

Stefani Markowitz Berkin, Karen Loew and Robert Barr of Charles Rutenberg LLC TRData LogoTINY have the listing, according to the Post. The four-bedroom apartment has four full bathrooms and features a formal dining room for 12, a windowed eat-in kitchen that comes with a butler’s pantry and a library with a custom built-in wet bar. Built in 1917, the building at 417 Park Avenue was designed by Emery Roth. It was converted from a rental into a full-service co-op in 1946.

It’s not the only pricey pad in Manhattan where sellers are making big reductions. In the last week, five properties in the over-$10 million market were slashed by more than five percent, according to data from StreetEasy. [NYP]Miriam Hall

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