Biggest price cut of the day.

Julian Schnabel's Palazzo Chupi saw a $3 million price cut toda.

The biggest price cut of the day goes to the combined penthouse at Palazzo Chupi, at 360 West 11th Street, according to Streeteasy.com. The price of the triplex and duplex combo was slashed by $3 million, and the unit is now on the market for $38 million. The 7,500-square-foot apartment, owned and designed by artist Julian Schnabel, is now listed for 7 percent less than its asking price of $41 million when it was listed on Streeteasy.com in January. The 3,713-square-foot triplex and 3,963-square-foot duplex are also for sale separately, and the triplex saw a $2 million price cut today, making its sale price $20 million. The duplex's price decreased by $1 million today, and it is now listed for $18 million. In addition, the triplex can be rented for $50,000 a month, and the duplex can be rented for $40,000 a month. Earlier this month, Schnabel put a Picasso painting up for sale to pay down debt on Palazzo Chupi. TRD