40 Fifth Avenue and Richard Gere, whose East End home the buyers snapped up (building photo source: PropertyShark)

A mystery pair of buyers is raking up primo property on the East End and in New York City, according to the Observer. Kelly Granat and Susan Boland are the proud new owners of a $2.8 million apartment at 40 Fifth Avenue on the corner of 11th Street, reportedly a highly coveted pad. But that’s not all — they’re also the duo behind the $5.9 million purchase of actor Richard Gere’s Hamptons home, which was discounted to a third of its original asking price, before Granat and Boland snapped it up. [NYO]

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Palazzo Chupi

The final unit left at Palazzo Chupi, the condominium developed by artist Julian Schnabel, has sold, according to Curbed. The eighth- and ninth-floor, 4,000-square-foot duplex sold for $12 million in December, down $20 million from the original asking price of $32 million, to a buyer known as “Magellan 360 LLC.” The development, where Richard Gere owns a unit, has endured repeated price cuts, as it struggled to attract buyers for its few remaining units. The second to last unit to sell closed in September 2009, prior to which Schnabel sold off a late period Picasso to pay off Chupi-related debt. [more]

Actor Richard Gere has sold his Water Mill house for $5.9 million, about a third lower than the $8.8 million asking price. The price was slashed to $7.2 million in June after being initially put on the market in February. The seven-bedroom, seven-bathroom home sits on 1.2 acres including a guest house, artist’s studio and a heated pool. Gere and his wife, actress Carey Lowell, purchased the home for $2.75 million in 2001.

Actor Richard Gere owns a unit in Palazzo Chupi, where the triplex was pulled off the market

One of the two remaining units at Julian Schnabel’s rose-hued, many-terraced Palazzo Chupi — arguably the most talked-about building in the city — has been taken off the market. The penthouse triplex, which has a 3,713-square-foot interior plus 2,305 square feet of exterior space, last on the market for a drastically reduced $14.95 million, was listed as “temporarily off-market” as of yesterday, according to data listings Web site Streeteasy.com. At the same time, a listing for a $27.9 million combination of the triplex and the building’s other remaining unit, a duplex, has also been de-listed. The duplex, currently asking $12.95 million, is now the sole unit for
sale at Chupi, located at 360 West 11th Street, according to Streeteasy.com.
PropertyShark.com, another real estate listings Web site, also lists the triplex — first put on the market for $32 million in February 2008 — as no longer on the market. [more]

Artist Julian Schnabel’s Palazzo Chupi is seeing some more price cuts. The price of the combined triplex and duplex units has been slashed to $27.9 million, which is $10.1 million less than its last listing price of $38 million, and more than $31 million less than its original asking price of $59 million. The units can be bought separately, as well. The triplex alone is going for $14.95 million, and the duplex can be purchased for $12.95 million, which is an average of $3,634 per square foot. Residents at the five-unit Palazzo Chupi, at 360 West 11th Street, include Schnabel and actor Richard Gere, who listed his home for $15 million before taking it off the market in March.