A chapter ends as a Barnes & Noble heiress takes a loss on her Chelsea penthouse

The story of the sale of a bookstore heiress’s penthouse seems to have ended on a bittersweet note.Stephanie Riggio Bulger, whose father, Len Riggio, is the former chairman of the Barnes & Noble retail chain, has finally found a taker for her four-bedroom duplex condo in Chelsea after two years of marketing it, according to a deed that appeared Wednesday in the city register.But the closing price of $10.5 million is far below the $20 million Bulger and her husband, Mike, sought in 2022, when they first listed the unit, a 3,800-square-foot spread at 455 W. 20th St. on the campus of the General Theological Seminary.In fact, the price represents an almost 15% loss relative to the $12.2 million the couple paid for the penthouse in 2014, when they bought it from the condo’s sponsor, the developer The Brodsky Organization.With four baths, a 615-square-foot great room with southern views and a fireplace, and 900 square feet of terraces, the apartment appears well appointed. But the unit came to market the same year the Federal Reserve began raising interest rates in a bid to curb inflation, which had the effect of elevating mortgage costs and chilling the housing market.The buyer, who used a shell company, 445 West 20th Street PH LLC, paid in cash for the unit, which went into contract July 3 and closed Aug. 15, according to the register. Representing the buyer was attorney James Kennedy, a partner at the firm Wilk Auslander, who did not return an email for comment. And... Continue reading at 'Crains New York'

[ Crains New York | 2024-08-22 15:41:31 UTC ]

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550 Stores Participated in 2024 Bookstore Romance Day

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[ Publishers Weekly | 2024-08-21 04:00:00 UTC ]
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Christie’s extends Rockefeller Center lease for 25 years

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[ Crains New York | 2024-08-20 15:35:35 UTC ]
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New Bookstore Aims to Help Readers Cope With Burnout

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[ Publishers Weekly | 2024-08-19 04:00:00 UTC ]
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The coolest bookstore bars in America.

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[ Literrary Hub | 2024-08-16 17:01:25 UTC ]
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Italy: A New Ubik Bookstore on Sicily’s Island of Ortigia

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[ Publishing Perspectives | 2024-08-07 15:14:55 UTC ]
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Book Club Picks for August 2024

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[ Publishers Weekly | 2024-08-06 04:00:00 UTC ]
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UK: Spiracle Opens ‘Audiobook in a Card’ for Bookstores

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[ Publishing Perspectives | 2024-08-05 18:30:21 UTC ]
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Book Review: ‘The Bookshop,’ by Evan Friss

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[ The New York Times | 2024-08-04 09:00:54 UTC ]
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The first US Book Prize judged entirely by incarcerated people has announced a winner.

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[ Literrary Hub | 2024-08-02 17:05:17 UTC ]
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Derek Holland Named Managing Director of Tattered Cover

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Neil Gaiman Accused of Sexual Assault (Again)

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Barnes & Noble’s Purchase of Indie Bookstore Approved by Court

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Court Approves Barnes & Noble’s Purchase of Tattered Cover

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Hobby Lobby inks massive Tribeca lease

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