The New York City real estate market might be as dead as a summer-in-the-city Friday, but for this week at least, there’s some heat in the Hamptons.
Gym mogul Danny Errico, co-founder of Equinox, has sold his oceanfront Amagansett mansion for $11.895 million. That’s far less than his $14.995 million asking price, but given the market and excess of inventory on the East End, the reduction isn’t a surprise.
The house at 71 Shipwreck Drive is 7,000 square feet. It was built in 2002 with six bedrooms, 6 1/2 bathrooms, seven fireplaces and a heated pool on 1 1/2 oceanfront acres. Privacy is guaranteed with a beach house overlooking a 500-acre nature preserve.
The buyer is a financier from Richmond, Va. Broker Susan Breitenbach of the Corcoran Group had no comment on the deal.
Errico and his wife, Vera, now divide their time between New York and Los Angeles. When in Manhattan, they live at the Millennium Tower, with neighbors like Regis Philbin and Howard Stern.
Man U-turn?
Sir Alex Ferguson, manager of England’s Manchester United soccer team, might be trying to back out of his deal to purchase a penthouse at the Manhattan House development on East 66th Street.
We had previously reported that Ferguson was buying a three-bedroom unit, but we hear the financial health of the massive luxury development could be giving him pause. There are reports that the lender of the building is currently looking for a new sponsor to take over management of the development.
But we’ve also learned that Richard and Cherylyn Cieri closed on their Manhattan House penthouse purchase for close to $8 million. The 2,400-square-foot residence includes two big bedrooms, three bathrooms and a library. Richard Cieri, ironically, is a partner in the law firm Kirkland & Ellis, which has represented financially distressed companies.
Elsewhere on the Upper East Side, financier Stephen Benson has reduced the asking price on his snazzy Park Avenue apartment for the fourth time. The two-bedroom residence, Penthouse B at 885 Park Ave., is now listed at $8.25 million. One year ago, Benson wanted $13 million.