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On the Market: Is the Flip Alive and Well?

So goes this Brown Harris Stevens listing in the Sequoia at 222 West 14th Street: "Enjoy Romantic 'movie views' from this south facing condo studio apartment." Those views better be friggin' IMAX, because at 435 square feet and a double-take inducing $699,999 price tag, this one might be a tough sell. And a Curbed tipster is dangerously flirting with calling bullshit on the entire thing:

This is apt 11D which closed last April 2006 for $520,000. It had been for sale in 2005 and closed in August 2005 for $415,000. The market to flip is alive and well?We'll let the public be the judge of that. Who will step up and buy this studio apartment?
· Listing: 222 West 14th Street [BHS]