These are dark days at Jean Nouvel's 40 Mercer Street palace of blue glass. A $4.5 million unit at the building has sold at a loss! The final sales price was an only-slightly-lower $4.22 million, but the apartment was asking $7.25 million once upon a time.
If that isn't enough to send you fleeing for the nearest fallout shelter, we also learned this morning that the building's cabanas are selling for 60 percent less than they were asking two years ago! A cabana in the building sold in April for $135,000. But back in 2007, cabanas were asking $350,000.
If you need us, we'll be in an undisclosed location, waiting out the famine and pestilence.
· Have Mercer! Condo at Nouvel's Castle Sells at a Loss for $4.22M [NYO]
· Soho for $55/SF? At 40 Mercer, the Answer is...Maybe? [Curbed]
· On the Market: This is Not a 40 Mercer Apartment [Curbed]