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Lifestyles of the Economakis Familiy

The Villager scored a tour of the five-story mansion that accommodates one lucky family at 47 East Third Street, and boy does it sound like a palace. Where once were 15 rent-regulated apartments, now sits a two-story “airy living room,” a wrestling room, a room for a live-in nanny, a room for the building’s security system, and “an upside-down river” of re-purposed wooden beams that serves as a ceiling sculpture. Even Mosaic Man plans to do one of his signature designs on the exterior of the building. The Economakis family waged a controversial battle to oust tenants in the building beginning in 2003. Eventually, nine holdout tenants took buyouts that averaged $70,000, according to the paper.