The Real Deal New York

After no bites, Sterling Mason penthouse listed for fourth time

Almost every other apartment in Taconic's condo has sold
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The penthouse at 71 Laight Street

Three years since it was first listed, the $20 million penthouse at Taconic Investment Partners’ Sterling Mason condo is back on the market, but there’s no price drop in sight.

Since the Morris Adjmi-designed building at 71 Laight Street first launched sales in 2013, most of the 33 units have found buyers.

But Penthouse C, a duplex which boasts nearly 5,000 square feet and four bedrooms, has languished on the market since it was first brought to market. The duplex features a private terrace of nearly 1,100 square feet. There’s also a library, a great room and what the listing describes as the building’s largest master suite.

Despite a slowdown in the luxury condo market — an analysis by The Real Deal from earlier this year found that more than 35 percent of Manhattan penthouses had seen a price chop — Taconic refuses to drop the price.

Curbed notes that condos of a similar size in Tribeca – such as 56 Leonard and 30 Park Place – have sold for higher prices. And another of the three penthouses in the Sterling Mason did sell for the asking price of $23 million, so there may be hope for the sponsors yet.

Bruce Ehrmann, Roger Erickson and Christopher Morales of Douglas Elliman TRData LogoTINY have the listing. [Curbed]Miriam Hall