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True To Form, Real Estate Mogul Tears Down $2.7M Colonial

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After languishing on the market for longer than we can remember, this out-of-place colonial finally found a buyer in real estate mogul Morris Moinian. According to the Post, Moinian scored a $2.7 million closing price even though the listing originally touted a $3.5 million ask. So how will Moinian celebrate? By tearing the place down, of course!

Moinian, who was most recently tied to a development at 425 Greenwich Street, apparently has a thing for renovations; he's fresh of the heels of a $30 million townhouse renovation on the Upper East Side. Architecture firm Fogarty Finger executed that renovation, so we imagine they'll lend a helping hand for this project as well. Moinian recently told New York Daily News that "A real man should not have anything fancy like gold leaves or silly ties." This leads us to believe that a leaf-free, simple beach house will start taking shape any day now.

· 'Fax' and Figures [NYP]
· Listing: 90 Pheasant Close East [Prudential]