Seller rejects $2 million bid for m127 penthouse

By
Real Estate Agent with Charles Rutenberg Realty LLC

The winning bid of $2,047,500 (including buyer’s premium) was rejected today for the 2,255-sf  penthouse at m127 following yesterday’s auction of six condos in the building, at 127 Madison Ave. in Manhattan, according to Paramount Realty USA, which conducted the event.

With three bedrooms, two and a half baths and a 338-sf terrace, that unit alone alone was subject to the developer’s approval. The listed price was $3.4 million, and the discount amounts to 40 percent.

The five two-bedroom condos on the block were sold without a reserve, and the developer already has signed those contracts, Paramount said.

Bids minus the penthouse totaled $6,384,000, resulting in an average price of $1,276,800.

The sum of all the sold apartments represents a 28 percent discount from the previously listed total of $8.85 million for them.

If this is your first dip in the waters of my blog on the auction, you may want to have a look at my posts earlier today and also yesterday.

Posted by

Malcolm Carter

Licensed Associate Real Estate Broker

Senior Vice President

Charles Rutenberg Realty

127 E. 56th Street

New York, NY 10022

M: 347-886-0248

F: 347-438-3201

Blog Newsletter Web site

Follow Me on Twitter

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
New York New York County Manhattan
Tags:
m127
127 madison avenue
paramount realty usa

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
22,340

Malcolm Carter

Ask me a question
*
*
*
*
Spam prevention