Marble House, bracing for winter, cuts price

Tribeca home now asking $14.9 million — $10 million less than initial ask

TRD New York /
Nov.November 12, 2012 04:30 PM

Despite a booming market for trophy properties, one marble-clad Tribeca home complete with a private 45-foot pool has lingered on the market, forcing the owner to slash the listing price by almost half the initial ask.

Film producer Stuart Parr’s “Marble House” at 60 Collister Street is set to undergo another price cut, its third since February. After being pulled from the market yesterday, the home is set to come online, with a $14.995 million asking price. That represents more than a $10 million discount off of the unit’s original asking price.

As previously reported, the 9,200-square-foot home first hit the market in February 2009, asking $24.5 million; it came on and off the market several times between then and August 2010, when its price was just $18.5 million. At that time it was marketed by the Corcoran Group. The unit was then relisted by Fredrik Eklund and John Gomes of Prudential Douglas Elliman in February 2012 asking $20 million. The price dropped to $15.8 million as recently as October but the listing agents are now chopping another $800,000 off the asking price.

“We wanted to warm it up a bit since we are going into winter,” Eklund told The Real Deal.

The listing was taken offline yesterday, Eklund said, so that the brokers could post new images of the property along with the new price today.

The unit appears to be competitively priced. According to a search for comparably sized homes in the neighborhood, the home, now asking $1,629 per square foot, is one of the cheapest luxury homes in Tribeca on a price per square foot basis.

A 6,600-square-foot, 25-foot-wide townhouse at 150 Reade Street is asking $11.5 million or $1,742 per square foot, while a 7,200-square-foot penthouse residence at 66 Leonard Street is asking $22 million, or $3,055 per square foot. Meanwhile, a 6,147-square-foot home at 31 North Moore Street is asking $13.95 million, or $2,269 per square foot.

The Collister Street property, which is nicknamed for the vast amount of Carrera marble that clads its interior, has had a tumultuous history. The home was imagined by “8 Mile” producer Parr, one of the original investors in the condo conversion, before lenders foreclosed on the initial sponsorship entity. The sponsor had brought investors on board who were willing to take title to properties and then finish them individually to their own specifications. VE Equities later took over from the sponsor and sold out the remainder of the building, which was formerly home to the American Express Stables and, later, to Area nightclub.

The five-bedroom home features a sauna, a game room, a wine cellar and a 12-seat theater.

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