The Palazzo Chupi penthouse, part of the gigantic pink mansion built by artist/filmmaker/musician Julian Schnabel in Greenwich Village, has been hit hard by the crumbling real estate market.
Its price has dropped from $32-million to $24-million since last May.
It’s sad and possibly indicative of Manhattan’s changing denizens, from art lovers to culture-less rich brats. Either Schnabel should have sold the place back in the 1990s when owning a big weird pink house designed by a famous artist or a Cannes-adored film director would have had some cachet – or he should have built the place in South Beach where artists and fuschia never go out of style. Knock on wood.