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John Ronan-Renovated Mega Co-op Down $1.5M in 18 Months

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In an upper crust Gold Coast co-op building that's something of a playground for interior designers, this 5,500-square-foot ground-floor abode goes the contemporary route courtesy of prominent local architect/designer John Ronan. The unit has 3 beds and 5 baths in its current configuration, but we're sure you could play around with the bedrooms. Ronan really got down with wood panelling in this project, from the library to the billiard room to the walk-in closet. There's also an ungodly amount of marble in at least one bathroom and a spellbinding gallery for long sessions away from the LED screens that make up the better part of daily life. But we shouldn't get too caught up in extolling the virtues of this property— it's had a bit of a pricing and marketability problem, having sustained nearly $1.5M in price cuts over 18 months on the market. Late last week, the listing took a single $775K slash, garnering some attention in the process (here we are, after all). Although priced a million or more below comparable upper-floor units, we could see the $4.975M ask taking future hits. Or could this be the magic number?
·Listing: 209 E Lake Shore Drive #1E [Baird & Warner]