Nolita mansion sells for half peak asking price

The buyer for Nolita’s Candle Building at 11 Spring Street, which went into contract earlier this month, has been revealed, along with its bargain basement closing price. The building — which include three luxury condominium units that can be converted into one residence — went for a jaw-dropping $19.5 million, marking a 50 percent drop from the property’s peak asking price of $39.8 million. The building had been purchased by Lachlan Murdoch, the oldest son of media mogul Rupert Murdoch, just three years ago for $12 million, before undergoing a massive renovation that divvied up the space into three units.