After several price chops and spending years on and off the market, a Greenwich Village penthouse condominium unit just sold for $11.5 million.
The 5,704-square-foot unit at 12 East 13th Street was most recently listed for $12.95 million, according to the New York Post. The home was initially listed for $28.5 million in 2013, then for $30.5 million, $20 million and then the most recent asking price. Though the triplex reportedly caught the attention of Justin Timberlake last year, it spent roughly five years on and off the market.
“Everything $10 million [and above] takes much longer to sell these days,” a real estate industry source told the Post. “This apartment was caught in the midst of the great pricing adjustment in the luxury market.”
Others speculated that nearby construction and higher property taxes under the president’s new tax law also played a part in keeping buyers away.