Former Bear Stearns chief operating officer Alvin H. Einbender, 80, has cut the price of his Manhattan apartment, a onetime gym in the former New York City Police Headquarters downtown, and is now asking $19.95 million, 33% off the original listing price in May 2008.
The price of the 6,600-square-foot cooperative unit was cut once before, last March, to $26 million. It has an 80-by-40 foot great room with a 25-foot ceiling featuring large skylights. The late architect Charles Gwathmey designed the four-bedroom, four-bath apartment for Mr. Einbender and his wife, Joan. (Mr. Gwathmey also designed an addition to the Guggenheim Museum.) Mr. Einbender left the operating-chief post at Bear in 1992. Sharon E. Baum of Corcoran Group has the listing.
