What is the story about?
What's Happening?
Carolyne Roehm, a renowned author and former muse of Oscar de la Renta, has re-listed her luxurious Manhattan duplex for $5.49 million. Located in Sutton Place, the co-op features three bedrooms and embodies a classic opulent style with coffered ceilings, stately columns, and fabric paneling. The property was initially listed at $6.15 million last year but was withdrawn in August after a price reduction. Roehm, who purchased the residence in 2004 post-divorce from Henry Kravis, has decorated the home with rich furnishings and art, making it a showcase of her aesthetic. The building, constructed in 1929, was designed for artists, offering expansive walls and large windows.
Why It's Important?
The re-listing of Roehm's home reflects broader trends in the luxury real estate market, where price adjustments are becoming more common due to fluctuating demand. This move could signal a shift in the market dynamics, affecting both buyers and sellers in high-end real estate. Roehm's decision to sell may also influence other luxury homeowners considering similar actions, potentially impacting market inventory and pricing strategies. The property’s unique artistic history and design may attract buyers interested in homes with character and historical significance.
What's Next?
Potential buyers will have the opportunity to view the property, which is being marketed by Coldwell Banker Warburg. The real estate market will continue to monitor luxury listings like Roehm's for signs of recovery or further adjustments. The outcome of this sale could influence future pricing strategies for similar properties in Manhattan, especially those with historical and artistic significance.
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