Steve Mnuchin’s sister settles for $7.7M for sale of Park Avenue penthouse

Socialite Valerie Mnuchin paid $8.4M for the home in 2014

New York /
Aug.August 10, 2021 02:47 PM
Valerie Mnuchin and 898 Park Avenue (Getty, Google Maps)

Valerie Mnuchin and 898 Park Avenue (Getty, Google Maps)

Turns out this Park Avenue penthouse was in need of a price chop after all.

Valerie Mnuchin, New York City socialite and sister to former U.S. Treasury Secretary Steve Mnuchin, sold her Lenox Hill penthouse co-op at 898 Park Avenue for $7.7 million, property records show. Douglas Elliman’s Joan Swift had the listing.

The property became the subject of drama last year when Mnuchin sued potential buyers for a near $1 million deposit, the New York Post reported.

Mnuchin claimed the couple tried to tank the agreement by using Covid as an excuse to negotiate the contract price, causing the co-op board to reject the deal.

Apparently, a discount was warranted. The home went into contract at $8.75 million in April but the final sale was for $1.05 million less than that.

It’s a loss for the socialite who purchased the home in 2014 for $8.4 million before overhauling the property with a modern aesthetic complete with seven bedrooms — including a full-floor master suite with wall-to-wall arched windows — five bathrooms and a planted wrap terrace.

Mnuchin originally tried to sell the unit for $13.2 million in 2018.

The Mnuchin family is no stranger to price chops: It took two years for Steve Mnuchin to sell the Park Avenue pad he bought from his aunt in 2000. Originally asking $33 million in 2018, the home went into contract for $26 million this spring.





    Related Articles

    arrow_forward_ios
    Here are the week’s top luxury sales
    Here are the week’s top luxury sales
    Here are the week’s top luxury sales
    Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)
    For 15 years, David Koch lived at the world’s “richest building”
    For 15 years, David Koch lived at the world’s “richest building”
    Here are the week’s top luxury sales
    Here are the week’s top luxury sales
    Here are the week’s top luxury sales
    Wells Fargo hit with $400M suit for breach of contract linked to robo-signing scandal
    Wells Fargo hit with $400M suit for breach of contract linked to robo-signing scandal
    Wells Fargo hit with $400M suit for breach of contract linked to robo-signing scandal
    11 West 121st Street
    5 historic brownstones and the Harlem Renaissance
    5 historic brownstones and the Harlem Renaissance
    The slowing of the housing market has squeezed the profit margins of house-flipping investors. (iStock)
    Profit margins on fixer-uppers fall to 10-year low
    Profit margins on fixer-uppers fall to 10-year low
    The Saratoga County construction company owner defrauded homebuyers and lenders out of $1 million, spending money on himself or other jobs rather than the homes he promised to build. (iStock)
    Upstate homebuilder gets prison for failing to deliver
    Upstate homebuilder gets prison for failing to deliver
    Quick turnaround times have luxury buyers considering modular as an alternative to traditional construction for grandiose homes. (iStock)
    Modular construction works for luxury homes, too
    Modular construction works for luxury homes, too
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...