Music industry bigwig Clive Davis has chopped over $800,000 off the price of his three-bedroom co-op at the Ritz Tower in Manhattan.
The price was reduced by 10% last week to $6.995 million, a few months after Mr. Davis put the renovated and meticulously designed duplex on the market for $7.8 million, according to listing records. Mr. Davis, 85, a Rock and Roll Hall of Fame member credited with launching the careers of Whitney Houston and Barry Manilow, is the chief creative officer at Sony Music.
The music producer, who’s touched the careers of scores of hitmakers across genres from Aretha Franklin and Bruce Springsteen to The Grateful Dead and Alicia Keys, has owned a number of units in the Park Avenue building over the past decade, according to property records.
This particular home is a duplex crafted from two apartments Mr. Davis bought in 2015 for a combined $3.4 million, records show. Interior designer Greg Schriefer led the redesign that turned the two units into a single “harmonious architectural triumph,” according to the listing with Gina Sabio and Sherri Balassone of the Corcoran Group, and Eva J. Mohr of Sotheby’s International Realty.
The redesign includes a grand coil staircase, overhung with a Lillian August chandelier, that connects the two levels, Italian marble windowsills and herringbone wood floors. Befitting a music mogul, the home was outfitted with surround-sound speakers throughout.
The combined home spans about 2,800 square feet and has seven rooms, including a library, foyer with a wet bar and space to entertain, according to the listing.
The brokers are marketing the discount as a price improvement given today’s luxury market conditions.
Mr. Davis could not immediately be reached for comment.
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