Today another mystery from sexy, little m127.
It goes something like this: The sexy, little (and new and ballyhooed) condo wedged between some clunky brick Madison Avenue buildings found itself in trouble when in 2008 the real estate market crashed and six of nine units were still unsold. It may not have helped that most of the discussion about the building centered around the (still unresolved) question of whether it was named for a bus route.
To avoid foreclosure, the building underwent Manhattan’s first developer-conducted auction in 20 years, Curbed reported at the time. So bleak were things, The New York Times wondered allowed whether anyone would show up. But, indeed, 400 prospective buyers came, and the units flew of the shelves, still well below the original asking prices.
But then today, Curbed reports that #5, which sold for $1.2 million in June, is back on the market with a $1.5 million price tag. There’s no deed on public record, and the asking price isn’t high enough to make a re-sale worthwhile, Curbed notes.
Listing broker William Landhauser couldn’t immediately be reached for comment.