'Bad Neighbor' Olsen Twins Selling New York Penthouse 5/22/08

Mary Kate and Ashley Olsen have reportedly abandoned their massive multi-million dollar New York penthouse after neighbors became sick of their hard-partying ways.

The 22-year-old media mogul sisters snapped up the massive Manhattan pad in 2004 after moving from their native Los Angeles to the east coast to attend New York University. But they have sold it in a hurry for $10.45 million (£5.25 million) - after dropping the price by almost $1 million (£500,000) to ensure a quick sale. And, despite their bi-coastal lifestyle, neighbors at their Meatpacking District pad are happy to see the twins and their hard-partying ways hit the road.

A former neighbor of the starlets tells the New York Post, "The bodyguards in their SUVs are always getting in the way of our alternate-side parking routine. You'd think the president was living here.

"They certainly keep late hours. I was jogging early one morning and they were piling out of their gas guzzlers in their little club outfits." The sisters are now set to rent another apartment in the city's star-studded West Village area at a $12,000 (£6,000) a month price tag.

Their new home - a 10-room triplex brownstone - includes five bedrooms, three bathrooms and a terrace. In the meantime, the buying price for their former abode has been lowered from $11.9 million (£5.95million) to $10.45 million