The Real Deal New York

Gramercy Park townhouse drops price to $18M, adds Raphael De Niro to listing

February 12, 2013 11:30AM

A tony townhouse at 11 Gramercy Park South has chopped its ask by $4 million and brought on Douglas Elliman’s Raphael De Niro to help close the deal, now that the unit has sat on the market for nearly a year, according to Curbed.

The 11,610-square-foot townhouse, owned by Union Square Coffee Shop owner Carolyn Benitez and Grammy-winning bassist John Benitez, listed for an optimistic $25 million with the Modlin Group’s Adam Modlin and Marisa Sargent this past May. By October the price had already been reduced by $3 million to $22 million, and now the owners have decided to settle for just $18 million.

Built in 1856, this 27-foot wide brownstone is currently divided into three units: a triplex and two upper-floor duplexes, one of which is occupied by a rent-controlled tenant. [Curbed] —Christopher Cameron

  • Piedaterre

    Why don’t they offer the rent-controlled tenant $1 million to leave. Doing this will add more than $1 million in value to the building. A win win for all!