Auctioned M127 condo has just gone on the market

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.

Unsold at auction, m127 penthouse finds buyer

The penthouse that went unsold at the auction of six new condos in the m127 development has found a buyer with an offer that owner Cardinal Investments has accepted.

After weeks of negotiations with more than two interested parties, the contract was signed on Wednesday, according to Misha Haghani of Paramount Realty USA, which conducted the auction of the units at 127 Madison Avenue.

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.