The Real Deal New York

Diddy’s scrapped UES megamansion is back on the market

Property at 807 Park re-listed for $29M
November 01, 2018 09:30AM

From left: Siraj Dadabhoy, 807 Park Avenue, and Michael Betancourt

The Upper East Side building that was once slated to be a megamansion for rapper and producer Diddy is back on the market. Yet again.

The property at 807 Park Avenue is listed for $29 million, down from $31 million in August, the New York Post reported. It was listed for $39 million last year.

Stribling’s Alexa Lambert, Timothy Desmond, Linda Melnick and Marc Achilles have the listing.

The building is for sale after Diddy scrapped his plans for a megamansion and sold it to current owner Aion Partners, for $14.3 million in 2004. He purchased it for $12 million in 1998.

Since the sale, Aion, led by Siraj Dadabhoy and Michael Betancourt, has tried to sell three condos in the building, ranging from $12 million to $16 million. It also attempted demolishing the building. And now the whole property is for sale.

The building is being marketed as an income-producing property or family compound, the Post said. The 24,000-square-foot property has three four-floor residences. [NYP] — Meenal Vamburkar