Olatz Schnabel, wife of artist and film director Julian Schnabel, paid $5.5 million for a three-story residential building at 38 King Street between Sixth Avenue and Varick Street in Soho. Olatz Schnabel went into contract in September and closed on the purchase Dec. 16, property records published today show. The contract signing came less than a week before rumors of a divorce surfaced in September.
The seller of the 4,256-square-foot unit was identified as Daniel Kellison, property records indicate. The asking price for the Federal-style property was $6.5 million, according to a listing on the Web site of brokerage Prudential Douglas Elliman. [more]

The unit to see the biggest price cut today is a four- bedroom,
four-bath triplex at 43 Clarkson Street, between Hudson and Greenwich
streets, according to Streeteasy.com. The price of the
5,500-square-foot condo, penthouse R, was cut by $1 million, and the West Village
home is now on the market for $6 million. The apartment, which has a
terrace, is listed for 14 percent less than its asking price of $7
million when it first went on the market in May. The Corcoran Group’s
Lauren Muss and Michael Orme have the listing. TRD
[more]