Times are tough everywhere - the L.A. billionaire unloaded his full-floor Fifth Avenue apartment at the the Sherry-Netherland hotel for a measly $8 million after originally asking $15 million more than two years ago. The apartment includes a library, a private elevator landing, and 360-degree views of NY. From Bloomberg:
Sales of Manhattan luxury apartments, defined as the top 10 percent by price, fell 6.9 percent in the fourth quarter from a year earlier to 230, according to New York appraiser Miller Samuel Inc. and brokerage Prudential Douglas Elliman Real Estate. The median price of luxury units jumped 15 percent to $4.35 million.