Real Estate Price Cut: Susan (and John) Gutfreund's Fifth Avenue Co-op Marked Down $44 Million to...

...$76 million.

From The Real Deal:

This 834 Fifth Avenue co-op just got a $20M price cut

The 12K sf unit is now asking $76M

 834 Fifth Avenue and Susan Gutfreund (Credit: Brown Harris Stevens and Getty Images)

It was once the city’s priciest listing asking $120 million, but a 12,000-square-foot co-op at 834 Fifth Avenue is back on the market with a significantly reduced price tag of $76 million.

Susan Gutfreund — widow of John Gutfreund, the “King of Wall Street” financier and villain in the book “Liar’s Poker” — listed unit 7/8a in April 2016.

She sliced the price back to $96 million five months later but, even with that discount, one broker described that price tag as “absurd.”

Gutfreund is obviously hoping this most recent price drop — a decrease of 21 percent, according to StreetEasy — will be more appealing in the current market....MORE

Here's our post on the original listing:  

Thursday, April 28, 2016 

"Financier John Gutfreund’s Sprawling Fifth Avenue Co-Op Asks $120 Million"

From the Wall Street Journal's Private Properties:

The duplex of the former Salomon Brothers CEO includes a roughly 1,600-square-foot master suite, three staff rooms and a walk-in safe for storing silver

The sprawling Fifth Avenue co-op that for decades was home to former Salomon Brothers chief John Gutfreund is listing for $120 million.

A 38-year veteran at Salomon, Mr. Gutfreund was CEO of the firm during the 1991 Treasury-note auction scandal, and was pressured to resign. He died in March at age 86....MORE