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Curbed PriceChopper: 284 Fifth Avenue Penthouse

A falling market inaugurates a new Curbed feature: Curbed PriceChopper, which points out apartments that have recently seen asking price drops of significant size. Got a candidate for PriceChopper? Drop a line to Your fellow real estate enthusiasts will thank you for it.

Opening Asking: $2.4 million
Current Asking: $1.49 million
You Save! $910,000
The Skinny: Slicing almost $1 million off a $2.4 million asking price? It's happened with this Fifth Avenue listing, according to the ever-estimable Braden Keil. One might think a penthouse apartment would move at above $2 million, but it does have some problems holding it back: "The co-op residence is located above a karate studio in the less glamorous 30s on Fifth, it needs work, and the building has no doorman. 'It was vastly overpriced,' admitted Corcoran broker Brett Forman. "But it has incredible potential." Ah, potential. Perusing the pictures for this upscale fixer-upper, we'd be inclined to agree. For starters, how can you have a penthouse apartment without the SubZero? For shame!
· Listing: 284 Fifth Avenue Penthouse [Corcoran, site gloriously operational as of 2:44pm]
· Penthouse Hits Rock Bottom [NYPost]