Joan Didion's Upper East Side apartment sells for $26.5M after years of price cuts
Joan Didion's historic Upper East Side apartment has sold after years on the market. The 11-room co-op, once listed for $7.5 million, changed hands in 2021 following multiple price reductions and a switch in brokers. Its final sale marked the end of a lengthy process for the late writer's former home.
The apartment at 71st Street and Madison Avenue first went on sale with an asking price of $7.5 million. After little interest, the price dropped to $6.5 million. A third reduction and a new broker eventually brought in buyers.
Despite needing renovations and offering no views, the property drew attention for its prewar charm and spacious layout. The 11-room unit included four bedrooms and 4.5 bathrooms, spread across a classic Upper East Side floor plan.
In 2021, hedge fund manager Daniel Loeb and his wife, Margaret Munzer Loeb, purchased the home for $26.5 million. The final sale price far exceeded earlier listings, reflecting the property's enduring appeal and the prestige of its former owner.
The deal closed at more than triple the original asking price. The Loebs now own a piece of literary history, tied to one of America's most celebrated writers. The apartment's sale also highlights the strong demand for prewar properties in Manhattan, even when they require significant updates.
