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Karl Lagerfeld is selling his Gramercy Park apartment for $5.5 million—or about a million less than he paid for it in 2006. But even if he's taking a loss, Karl's still going out in style: Page Six reports that before he goes, Chanel will be filling the apartment's closets with Chanel bags and shoeboxes for an "installation of images." [Curbed, Page Six]