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KARL LAGERFELD MAKES BIG LOSS IN NEW YORK APARTMENT SALE

Friday, January 18, 2013 - Fashion icon Karl Lagerfeld has made a loss of more than $2 million (=C2£1.25 million) after selling off his New York apartment last month (Dec12).

Chanel's creative director purchased the three-bedroom pad with access to

Manhattan's exclusive Gramercy Park for $6.69 million (=C2£4.18 million)

in 2006, but despite making slight adjustments to the property, he never moved in.

He placed it on the market in 2011 at the slightly reduced price of $6.5 million (=C2£4 million), but the property failed to sell until December (12), when he agreed to slash the price and let it go for $4.5 million (=C2£2.8 million), reports the New York Post.

Article Copyright World Entertainment News Network All Rights Reserved.

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