Deal said to be near on unsold m127 penthouse

A contract for the sale of Penthouse B in the m127 condominium could be executed within the next two weeks, according to the firm that conducted the June 27  auction of six units in the building at 127 Madison Avenue in Manhattan. The other five units were sold “absolute,” not subject to the seller’s confirmation.

Misha Haghani, a principal of Paramount Realty USA, told me in a telephone interview yesterday that the building’s sponsor has rejected since the auction “more than two” offers for the penthouse in the form of signed contracts that were accompanied by required certified funds of 10 percent of the offering price.

“We’re working with a couple of people we’ve been in touch with since the auction,” he said, adding his “hope” that a deal could be struck “in the next couple of weeks.”

Haghani declined to disclose any specifics, including the number of offers.  But he did say that the sealed bids were greater than the winning bid of $2,047,500 (including 5 percent buyer premium), an amount that developer Cardinal Investments turned down.

Listed originally for $3.4 million, the 2,255-sf  penthouse has three bedrooms, two and a half baths and a 338-sf terrace.

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201
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