Mystery buyer of $43M Baccarat penthouse willing to take a loss on flip

Home initially went on market for $60M, but price is now about $40M

The Baccarat penthouse
The Baccarat penthouse

Well, that didn’t take long.

The Baccarat Hotel & Residences penthouse has returned to the market less than 18 months after finding a buyer, and its price tag has dropped to just under $40 million, according to Curbed.

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The penthouse at 20 West 53rd Street was previously on the market for more than three years with a $60 million asking price that later dropped to $54 million before ultimately selling to 20 West 53rd Street LLC in June 2016 for $42.55 million.

The duplex pad spans 7,381 square feet and contains five bedrooms and 5.5 bathrooms. It is located on the 48th and 49th floors of its Midtown West building, and Halstead Property is marketing the home. [Curbed]Eddie Small