Lawyer/banker/real estate investor/chef/we've probably left something out Andrew Borrok abandoned plans to open a restaurant pre-Lehman collapse "because he sensed that the market was imploding." That same sense of the market has just led him to, uh, resell his 40 Mercer Street condo at a loss. He paid $7.425 million for it in mid-2008, a nice discount from the $7.995 million asking price. It looks less nice compared to the latest sale price, to buyer Arthur World NY Inc., of $7.15 million. There seems to have been no official listing (the photo above is from the 2008 sale), which doesn't surprise us: if we were the previously untouchable 40 Mercer, we'd have egg on our facade right now.