It’s been a bumpy road for this Upper East Side penthouse
This will probably come as a surprise to no one: The Sherry-Netherland's 18th floor penthouse, which hit the market last fall for a staggering $86 million, has gotten a significant price cut. The Real Deal reports that the apartment, which has seven bedrooms and three terraces, is now asking a smaller—but still ridiculous—$78 million.
This particular apartment hasn't exactly had good luck when it comes to sales: The first time it hit the market, back in 2012, it was going for $95 million. But no one bit at that price, and finally, an unnamed Chinese buyer bought it in 2015 for $67.5 million. That buyer immediately tried to flip it for the previous $86 million price, and now, here we are, on the bottom of a real-estate see-saw once again.
When the $86 million listing first appeared, we had this to say: "And now, we wait to see if anyone will buy it at this newly-inflated price." We’re still waiting, even if the price is now a bit lower.
- Listing: 781 Fifth Avenue 18th Floor [Brown Harris Stevens]
- PH at Sherry-Netherland price chopped to $78M [TRD]
- Once Asking $95M, Sherry Netherland Co-op Sells for $67.5M [Curbed]
- Sherry Netherland's Priciest Apartment Finally Sells for $70M [Curbed]
- All Sherry Netherland coverage [Curbed]