Moinian’s Park Avenue co-op gets price cut

Joseph Moinian and the co-op at 1045 Park Avenue

Developer Joseph Moinian has chopped the price by 12 percent on his five-bedroom Park Avenue co-op after watching it languish on the market for more than a year. The 4,000-square-foot apartment, at 1045 Park Avenue on the corner of 86th Street, at was originally listed for $8.995 million in March 2009. Moinian and his wife, Nazee, combined two apartments to create the full-15th-floor spread, which now comes with its 10-foot beamed ceilings, French doors and windowed kitchen for a reduced price of $7.9 million. Jacky Teplitzky of Prudential Douglas Elliman has the listing. [NYT]