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Apthorp Buyer Attempts First Flip Two Weeks After Closing

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Just because closings have begun at controversial UWS condo conversion The Apthorp doesn't mean the drama is over. The Attorney General isn't quite finished taking a look at the developer-lender relationship, plus there are the questions about the legality of rentals in the building. What about the kind of drama we might find in a building with a less messy history, like attempts to flip units for more than double the profits? The Apthorp now has that too! The buyer who closed on apartment #5KN on August 31 for $1,369,546 is now trying to flip the apartment for $2,824,500. (It's a 2BR, 1.5BA, for values of "bedroom" that include the apartment's dining room.) The first purchase price of the apartment works out to around $1,000/square foot, which makes us think the buyer might be a tenant who took an insider deal. Not a bad strategy!

The listing doesn't have photos yet, so we're unsure of the apartment's condition, but here's what we're working with. A second bedroom with direct kitchen access? Dangerous midnight snacking potential!

· Listing: 390 West End Avenue [Elliman]
· 390 West End Avenue #5KN [StreetEasy]
· Apthorp coverage [Curbed]

Apthorp Building

390 West End Avenue, New York, NY 10023