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.