Movers & Shakers: Lachlan's Listing

Media scion Lachlan Murdoch has put his derelict downtown Manhattan mansion up for sale, according to the New York Times real estate blog.

The five-story brick building is on Spring Street, not far from the loft that, until last year, was owned by his billionaire father, Rupert Murdoch, and stepmother, Wendi Deng. The younger Murdoch bought the 14,300-square-foot building for $5.25 million in 2003. He planned to have the former horse stable turned into a massive home for himself and his wife, complete with a lap pool in the basement. But to make it livable today, a buyer would have to fill in the gutted structure, as well as clean the graffiti off the outside.

Lachlan was the publisher of the New York Post and a top exec at News Corp. (nyse: NWS - news - people ), the company his father founded. He was Rupert's intended successor until last year; after a family feud, Lachlan left the company and returned to Australia.

The property is listed for $14.8 million with Deborah Grubman and Carol Cohen at The Corcoran Group. Last year, the pair also helped Rupert Murdoch sell his Prince Street loft to clothing designer Ellie Tahari.