The building at 807 Park Avenue will hit the market again after owner Aion Partners decided to, once and for all, give up on the beleaguered site, reports TRD by way of the Post. Aion purchased the 12-story mid-block building from none other than Sean “Puff Daddy/Puffy/P. Diddy/Diddy” Combs in 2004, after plans for Combs’s elaborate personal mansion fell through. Aion has, for the past 12 years, tried and tried again to push renovations and partial demolitions of the building through with the Landmarks Preservation Commission, which has say over the site because of its location in the Upper East Side Historic District.
Aion had achieved little success until 2015, when the LPC permitted the development company to raze the seven story addition to the building that was plopped on in 1983, 81 years after the original five-story tenement at the site was built. TRD says Aion will put the building on the market for $30 million, over twice as much as Aion paid for it in 2004—which is $14.3 million—effectively ending a saga much less interesting than keeping afloat on Sean Combs’s recording name.
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