First Knight Loses A Million

Palazzo Chupi was supposed to be a glamorous living quarters for artist Julian Schnabel‘s celebrity friends, but in the end Richard Gere was the one of the only ones to buy a spot. However, Gere never moved into his full-floor, a 4 bedroom, 4 bathroom pad on 360 West 11th Street that he paid $12 million for, then later tried to flip for $17.995 million, then $15 million, and then nothing when the listing was pulled. But now, Josh Barbanel reports that Gere has found his buyer “for about $1 million less.” Meanwhile, up in the duplex, where the asking price is at $12.95 million (down from $32 million),  a buyer is in contract negotiations for the space.

Via: Curbed