Legendary stylist Paul Cavaco has put his Chelsea co-op on the market for $1.59 million — down from its September asking price of $1.79 million.

And his use of color — from intense blues to burnt orange and steely gray — inside this classic two-bedroom, two-bathroom residence, is sublime.

Cavaco — the former fashion director at Harper’s Bazaar and Vogue, and ex-creative director at Allure — has worked with top photographers including Mario Testino, Bruce Weber and Steven Meisel throughout his 40-plus-year career, as well as top models and icons like Madonna and even Ivana Trump.

He’s also co-founder of the powerful fashion PR/ad agency KCD. Cavaco, who was born in The Bronx, has called Chelsea home since he moved into this eighth-floor residence at 201 W. 16th St. in 1996.

Fellow residents include restaurateur Lynn Wagenknecht, of the Odeon, Cafe Cluny and Café Luxembourg, and CNN’s Richard Quest. The classic pre-war residence features hardwood floors and lots of light.

The foyer opens to a corner living room, and the main bedroom includes an “extra” windowed space that can morph into a home office, nursery or walk-in closet.

The building boasts a landscaped roof deck, a doorman, a live-in super, a laundry room, a bike room and storage units.

Cavaco tells Gimme he is moving to the West Coast to be close to his daughter, Cayli Cavaco Reck — known as Knockout Beauty on Instagram — and his grandchildren.

The listing broker is Douglas Elliman’s Sam Sullivan.