Fifth on the Park slashes prices

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Uptown Partners’ 5th on the Park in Harlem has slashed prices by as much as 15 percent. The asking price for unit 26A, for example, was $1.9 million last month from $2.25 million previously. There are 70 units out of 160 still available at the project at 1485 Fifth Avenue on the corner of 120th Street. Uptown Partners made news in January when it scored a victory against two buyers who wanted to get their deposits back at the project. It was the first time in 20 years in New York that a federal judge ruled on a case in which buyers tried to use the Interstate Land Sales Full Disclosure Act, or ILSA, to cancel contracts and get deposits back. Griffin Real Estate Group is handling marketing and sales for the project.

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