Timber! Pricey Rinzler Mansion on East 74th Falls to $21 M.

A cool $35 million piece of property drops to $20.95 million awfully quickly these days.

A six-story, seven-bedroom, ten-bathroom, walnut-paneled, chandeliered townhouse at 11 East 74th Street was put on the market for $35 million in August 2007, even though it had sold for $11,230,700 only a year and a half earlier. According to city records, the place is owned by a corporation associated with the townhouse-loving Rinzler family, which runs the developer Dominion...

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