Bloomberg Businessweek

Manhattan’s Forlorn Mansions

For many New Yorkers, a superbly appointed town house is the dream home. So why aren’t those properties selling?
7 E. 88th St. has taken an almost 33 percent price cut

Seven E. 88th St. is a 24.5-foot-wide, six-story limestone town house a half-block from New York’s Central Park. Along with its 19 rooms (6 are bedrooms), it features a rooftop solarium, an elevator, a rear garden, and a fourth-floor balcony.

The mansion was listed at $44 million in 2014. A year later it was taken off the market, only to reappear in 2016 for $34.95 million, where it languished for a year and a half, according to Zillow. In October the price was cut yet again: It’s now listed with

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