Olsen Twins' NYC Penthouse Sale Points to Luxury Market Rebound

The Olsen twins may be college dropouts, but they weren't going to learn how to turn a profit on a $7.3 million penthouse condo in today's down market with two liberal arts degrees anyway. What Mary Kate and Ashley, now 23 years old, wasted barely attending a few semesters at New York University, they stand to make back -- sort of.

The New York Post's Jennifer Gould Keil reports that there's a roughly $8.45 million deal in the works to finally sell the student housing the sisters purchased six years ago, but never moved into. The potential owner of the Olsen's West Village penthouse is none other than a hedge fund head honcho -- one of the few non-entertainment-industry people who can afford multi-million dollar housing in New York.

"It is a trophy home in a sought-after building in the most blue-chip neighborhood in Manhattan," says Prudential Douglas Elliman's Seth Levin, who actually showed the property to a client back in 2008 when it was priced at $11.995 million. (It's also been listed at $9.45 million.)