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The Day the High-End Market Roared!

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Just when retail woes and food court snobbery had us thinking the Plaza was down for the count, this happens: the Plaza's third-floor State Suite has sold for $28 million, the Observer reports. That's the gorgeously marble-columned apartment with the crazy 55' x 13' gallery. That's also the place for which an Italian businessman failed to close a $45 million deal (which he hoped to turn into a $100 million resale). Then the place was relisted for $39 million until an unnamed foreign buyer picked it up from the sales rack for $28 million. And if that epic listing history suddenly makes the final sales price seem a little low, well, it's time to travel uptown!
There's another luxury market whopper back in action, and this place won't stand for any of that PriceChopper nonsense. It's 1016 Madison Avenue, which was last asking $75 million in late 2008 and now wants a still-respectable $72 million. The broker tells The Real Deal that the owner received offers in the low $60 millions before pulling the house off the market last time. Did this morning's upbeat market reports make that last $10 million seem like a sure thing?
· 'Timing is Everything' as Plaza's State Suite Trades for $28M [NYO]
· Antique dealers' UES pad returns to market with $72 million price tag [Real Deal]
· On the Market: Plaza's State Suite Relists for $6 Million Less
· Curbed PriceUpper: UES Townhouse Returns With $75M Price [Curbed]

The Plaza

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