Bethenny Frankel Finds Buyer for $4 Million Soho Loft After Almost 2 Years on the Market
The 49-year-old reality star was asking $3.995 million for the Mercer Street condo
It's official: Bethenny Frankel has found a buyer for her Soho loft, which was listed for $3.995 million.
The former Real Housewives of New York star, 49, originally listed the Mercer Street two-bedroom condo for $5 million in February 2017 with Million Dollar Listing New York star Fredrik Eklund (with whom she also starred on the real estate series Bethenny & Fredrik). She later changed realtors, handing the listing over to Leonard Steinberg of Compass, who slashed that price by $1.25 million in October.
PEOPLE can now confirm that the home has found a buyer and is in contract, though the final sale price has not been revealed.
"When I bought the apartment, I was in a situation where I really needed to buy something," Frankel told PEOPLE when she first put the home on the market. She had bought it in October 2014 for $4.2 million, in the midst of a bitter divorce battle with ex-husband Jason Hoppy, which stretched out over four years, partly due to their extended fight over their Tribeca apartment which she had purchased just before they split.
"It was a time when I needed to get some stability for Bryn and myself and I needed a home for us," she said, referencing her now 9-year-old daughter. "Our Soho apartment is an amazing place, but I'd like a bigger place now for both of us."
Renovating the 2,392-square-foot home was a welcome diversion for RHONY alum during the emotional rollercoaster that followed her divorce.
"I have been doing really well in real estate and I've got the bug," said Frankel. "When buying, I think, 'Would I like to live here?' and also, 'Is it also a good investment?' It's a really unique place not a cookie cutter place and I did a great renovation to make it even nicer — and more valuable."
The apartment features a sunken living room with fourteen-foot ceilings, triple-paned arched windows, a wood burning fireplace, a balcony and a landscaped atrium.
The open kitchen features new appliances from Subzero and Miele, as well as a five-burner range by Wolf and ample wine storage.
The master bedroom has a walk-in closet, custom marble dual sinks, and a soaking tub and steam shower. The second bedroom features walnut flooring, and built-in speakers.
"The living room is very dramatic with large windows," Frankel said. "But now that I've renovated it, I want another great opportunity."
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"I never like to buy anything new and perfect," she noted. "I adopt these properties, and give them some love. I never bought the apartment with the intention of living there permanently. I added value and now I'll find another place to do the same thing to."
Frankel and Bryn have since moved into a 4,000-square-foot Soho loft located right next to Frankel's Skinnygirl offices.
The reality star and entrepreneur announced in August that she'd be leaving RHONY in order to "explore my next chapter."
Speaking at Yahoo Finance's All Markets Summit in October, she said, "It wasn't about money. If I went back, it was about money, if that makes any sense. When I joined The Housewives, everyone told me not to do it and I went with my gut to do it. And when I thought about leaving, everyone told me not to leave. And I went with my gut to leave."