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
June 21, 2017 10:15AM

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