The luxury market is doing great, we hear. But tell that to poor 1016 Fifth Avenue.
This 12th-floor unit has the perfect Fifth Avenue pedigree, including picture windows, a grand gallery and a view of the Met (so close, in fact, that residents of the building took the museum’s recent renovation very personally). And yet, the price is falling Chicken Little-style.
The apartment was just listed last month by its owner, Sotheby’s broker Elizabeth Herz, for $6.75 million. Already it’s been chopped twice, and now you can own this gem for a mere $4.995 million. Looks like the housing crisis has a silver lining.