The Manhattan home of Lawrence Herbert, the founder of color company Pantone, known for its Color Matching System and yearly "Color of the Year" declarations, shaved $4 million from the asking price of his full-floor co-op on Monday.
The Upper East Side pad’s new price tag is $35.5 million, a 10% discount from the $39.5 million it was asking when it hit the market in June.
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You’d be forgiven for thinking that it would be chock full of "Ultra Violet," "Greenery," or "Serenity"—the most recent colors of the year from the company—but the Manhattan co-op is mostly an exercise in neutrals. It was designed by leather-loving interior designer Peter Marino, according to the listing with Eric Friedberg of Douglas Elliman. Mr. Friedberg did not immediately respond to request for comment.
The apartment has a private elevator landing, six bedrooms, five-and-a-half bathrooms, high ceilings, floor-to-ceiling windows, a paneled library and three fireplaces, the listing said.
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The 17-room residence occupies the entire 11th floor of the 18-floor building designed in 1931 by famed architect Rosario Candela.
The white-glove cooperative building, home to 18 apartments, has a list of famous residents, including William Lauder, executive chairman of The Estée Lauder Cos. and Zygmunt Wilf, billionaire developer and owner of NFL’s Minnesota Vikings, according to PropertyShark records.
Mr. Herbert could not be reached for comment. It is not clear when he purchased the unit.