A fifth-floor apartment that was sold at the auction of six new condos in the development called M127, at 127 Madison Avenue, has just gone on the market again.
The listing price is $1.55 million with monthly carrying costs of $1.961.
At the auction, the winning bid was $1.244 million, including the 5 per cent buyer premium.
The broker’s description of the place is appropriately–how to put it–enthusiastic:
JUMBO, FULL FLOOR 2BR/2BTH ( Approx. 1600 Sqft ) w/ private keyed elevator access. Great Apartment for Entertaining. Washer & Dryer in Apt. Only Four Short Streets from Madison Square Park. The living room view is of the beautiful landmarked American School for Dramatic Arts and the iconic Empire State Building. Built-in Miele espresso machine in the custom Schiffini kitchen which includes Subzero and Bosch appliances w/ marble countertops. This open kitchen is ideal for both cooking and entertaining. – Steps away from some of the city’s greatest restaurants, w/ many of NYC’s top rated restaurants only within a few blocks walk. Transportation is a short walk away with the 6/N/R/Q/W train. – WILL NOT LAST!!!
When offered by the developer, Cardinal Investments, the asking price was $1.725 million.
Only the market can decide how much the place is really worth, but the buyer apparently thinks he or she got a great deal with a listing price so much higher than the sold price.
We’ll just have to see.
As for the wisdom of writing “WILL NOT LAST,” I always view that assertion as the kiss of death.
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022