Palazzo Chupi off the market

 

 

Celebs love Chupi

There were once rumors that Palazzo Chupi could be home to Madonna, Bono and Johnny Depp. One of the five Palazzo Chupi units was purchased by Richard Gere for $12 million. Schnabel lives in the building, too.

 

Julian Schnabel’s Pepto Bismol-hued Palazzo Chupi building in the West Village evokes some seriously cavalier spending — his original asking price for the triplex penthouse was $32 million. Well, what do you expect from the artist/director turned real estate developer who pairs his giant ego with yellow-tinted sunglasses, and flaunts a big hairy chest in pajama tops at black-tie events? Palazzo Chupi isn’t just a big pink palace; it’s a space so transformative that you almost feel a life along the Grand Canal in Venice. In New York, it’s considered an eyesore for the uptight, while fans delight in Schnabel’s far-out taste. Fun designs have their limitations though, especially when a space not even 4,000 square feet is priced that high.

So now, finally after 21 months of looming empty over Schnabel like an Annie Leibovitz debt collection agency, last week a banker (surprise!) bought the unit for a dramatically slashed $10.5 million.

What will Bill Brady of Credit Suisse enjoy? There’s the charming Moorish-style balconies. Inside what Schnabel says is more accurately a “Pompeii Red” colored tower, are stone fireplaces. The basement has a 44-foot swimming pool. The triplex is just 3,845 square feet — a tiny dent in the total 50,000 square feet for the whole kit and ka-Chupi.

– Shira Levine is a freelance writer living in New York City.

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