Mary-Kate and Ashley Olsen (search) are selling their $7.3 million Manhattan apartment before they've even lived in it, according to People magazine.

The 18-year-old actresses bought the 6,000-square-foot penthouse before moving to the city to attend New York University (search) and planned extensive renovations.

"It turned out to be too much space, along with the fact that the renovation was going to take far longer than anyone expected," the twins' publicist, Michael Pagnotta (search), told the magazine. "It just didn't make sense anymore. Their needs changed in terms of their living situations."

The penthouse will be put on the market and sold in move-in condition, without renovations, People said.

Pagnotta denied reports that Mary-Kate, who sought treatment for an eating disorder last year, won't return to NYU.

"It's absolutely not true," he told the magazine. "She will continue to be enrolled in NYU in the fall. They both will continue to be enrolled in the fall."

As for Mary-Kate's health, Pagnotta said, "Mary-Kate is doing OK and is focused on finishing up the school year."

The Olsen twins started out playing Michelle Tanner as babies on ABC's "Full House" and have created a multimedia empire with a clothing line, feature films, direct-to-video movies and other merchandise.