"The price is firm." ? Jerry Della Femina, speaking with the Wall Street Journal in 2010 the last time he chopped the price?from $40M to $34.995M?of his oceanfront estate. The ad man went on to say that if a buyer wasn't found by the end of that year, he'd take the home off the market.
Like so much else in the world of advertising, his claims turned out to be untrue ("You mean to tell me that drinking Coors Lite won't lead to dating supermodels? I've been hoodwinked!"). Not only has the 7000 sq. ft. home been on the market continuously since 2010, but it just had another meeting with the pricechopper's blade to the tune of a whopping $5.045M. The ask on this "ancestral family home [no longer] in the making" is now below the $30M mark.
The pricetag is certainly headed in the right direction, but will most likely need to come done even more before a buyer is found. Anyone care to offer a suggestion as to what the "Madman of Madison Avenue" should really be asking for the place?
*Best viewed in full-screen mode.
· Listing: 20 Drew Lane [Corcoran]
· All previous Jerry Della Femina coverage [Curbed Hamptons]