An Eminent Domain! Sprayregen Seizes Newhouse's Duplex for Paltry $817.49 a Foot

What with the fiery collapse of the magazine and newspaper industries, Condé Nast’s Newhouse dynasty has graver concerns than getting top-dollar for company apartments around town. Still, it had to be at least mildly annoying that their five-bedroom duplex at East 76th Street’s Promenade, listed last December for an outrageously fair $4,995,000, just sold for only $2,925,000, according to city records.

And it has to be even more irksome that their buyer,...

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