nyc luxury market
New York

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

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.

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nyc luxury market
New York

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

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.

Read more

COMPANIES AND PEOPLE

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