Joe Moinian ups the price on long-unsold Park Avenue co-op

TRD New York /
May.May 19, 2011 10:07 AM
Joseph Moinian and the co-op at 1045 Park Avenue

It’s been more than two years and developer Joseph Moinian still hasn’t sold his 4,000-square-foot co-op at 1045 Park Avenue, so naturally he concluded that he had priced it too low. According to the Post, the five-bedroom, full-floor spread is back on the market for $10 million, up from $7.9 million last year at this time, and has a set of new brokers. Moinian originally listed the apartment for $8.995 million with Prudential Douglas Elliman’s Jacky Teplitzky, but after a year and a half and a price cut, he dropped her for Elliman’s Peter Acocella, Stephen Dartley and Brian Sakonchick, who pulled the sales listing and put the apartment on the rental market for $32,000 per month last summer. Now, that second broker team is out too, with Town Residential’s Dana Power, Bryan Graybill and Lucas Nathan stepping in for a try. The new trio is apparently banking on the value of an opportunity to buy the three-bedroom unit directly below Moinian’s, which is also on the market for $4.3 million and could theoretically be combined with his to create a duplex trophy pad. But if not, Moinian’s 15th-floor home is still available for rent for $32,000 monthly. [Post]

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