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Sutton Place Solarium Lowers Its Expectations to $5 Million

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If there's any penthouse we might have expected to sell for a nearly $7 million asking price, it would be this one, PHAB at 400 East 59th Street. But even with 1,450 square feet of outdoor space, a wet bar, and a 35-foot-long solarium, the apartment couldn't overcome the economy of October 2009. A year later, its price is down to $4.995 million. Which keeps it out of our price range, but that's what these galleries are for.
· Listing: 400 East 59th Street PHAB [Elliman]