Fraudster’s Gramercy Park mansion flounders on the market

But is the unit’s unsavory provenance the reason?

TRD New York /
Dec.December 20, 2014 02:49 PM

Despite spending a year on the market and seeing several pricechops, no one is biting on a fraudsters Gramercy Park mansion.

“Something wrong with 50 Gramercy Park? Huge price drop, almost unwarranted considering what it sold for originally and how strong the market is right now. Strange to say the least,” a tipster told Curbed.

Unit 16A was owned by financier Jón Ásgeir Jóhannesson, who was found guilty of tax fraud and spent a year in jail. But could that really be the reason the unit has failed to sell, as Curbed speculates?

After hitting the market in October 2013 for $8.25 million, it’s asking price then jumped to $10.9 million. It was then reduced to $8.9 million and once again to $7.5 million. Now, finally, the three-bedroom, three-bathroom apartment is asking $6.9 million. [Curbed] Christopher Cameron

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