A couple of weeks ago, there was a mini jihad over the West Village one-bedroom penthouse at 299 West 12th Street that was listed at $3.5 million, or roughly $4,800 per square-foot ($2,850 with the terrace included). $3.5 million for one bathroom, accessible only through the one bedroom? What is this, 740 Park? Most thought the price was a typo, and that the broker would eventually realize the mistake and correct it. Who doesn't get their 1s and 3s mixed up every now and then? But what actually happened falls somewhere in the middle, because we don't have a huge adjustment, but we've got a?sing along if you know the words?PriceChop! That $4,800/$2,850 is now $4,414/$2,612, because the price has dropped to $3.2 million. Still insanity? Let's discuss. Now's a great time for those Bing & Bing fanboys out there to speak up.
· Listing: 299 West 12th Street [Elliman]
· On the Market: So, How Much Per Square Inch? [Curbed]