Seven-year itch? Icelandic businessman cuts Gramercy PH price by 60%

Buyer paid $22M for condop in 2011, and it's languished on the market for years

TRD NEW YORK /
Jun.June 21, 2017 10:15 AM

The Penthouse at 50 Gramercy Park North

An Icelandic businessman who’s been desperate to sell his $22 million penthouse in Gramercy Park for six years is now offering the condop for less than half that amount.

The owner — identified in public records as Mynni Ehf, which is Icelandic for “Mouth Ltd.”— bought the duplex atop 50 Gramercy Park North in 2011 and re-listed it for $21.4 million just a few months later. With no takers, the owner has slashed the price several times, most recently landing at $8.995 million, or $2,123 per square foot, reported Curbed. The Corcoran Group’s TRData LogoTINY Constance Southwick and Trisha Lawton have the listing.

The deed was signed by Eyjólfur Gunnarsson, an Icelandic investor and businessman.

The pad was previously owned by another Icelandic businessman, financier Jón Ásgeir Jóhannesson, who paid $4.07 million in 2007, public records show.

The three-bedroom duplex has 4,235 square feet with two private terraces and wood-burning fireplaces. The unit comes with access to the Gramercy Park Hotel and a coveted key to Gramercy Park. [Curbed]E.B. Solomont


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

Here are the week’s top luxury sales

Here are the week’s top luxury sales

Linda Ellerbee and 17 St. Luke’s Place

Famed journalist and singer unload their New York City homes

From left: 55 East 74th Street, 9 East 82nd Street, 1 Central Park South, 78 Irving Place with Adam Neumann and 111 West 57th Street (Credit: StreetEasy, Wikipedia, Getty Images)

Adam Neumann’s triplex, Russians’ Plaza pad were priciest homes listed last week

3 East 69th Street and 252 East 57th Street 

With asking prices in freefall, luxury market sees strong week

Keller Williams CEO Gary Keller

Keller Williams will cut off agents who leave

Wall Street bonus season is the stuff home sellers’ dreams, as they picture eager buyers armed with hefty bonus checks and willing to pay top price. But in a buyer’s market that vision may be more like a mirage (Credit: iStock)

Here’s what Wall Street bonus season means for real estate this year

arrow_forward_ios
Loading...