Things like short sales do tarnish the reputations of even park-view luxury condo conversions. So it's a good thing #PHS has come along to put the Grand back in 225 Fifth Avenue's Grand Madison. The listing calls it the "acknowledged 'Premier Penthouse,'" and while we've learned not to ask who's doing the acknowledging, it's not a bad 3,000-square-foot, two-terrace spread (pics and floorplan in the gallery above). Even so, is it worth $8.5 million? The sellers spent $4,887,600 on the place in 2007 and failed to sell it for an earlier ask of $9.995 million. Maybe they should consult the 10-year charts.
· Glamorous Dplx Loft Penthse on the Park [Halstead]
· 225 Fifth Avenue #PHS [StreetEasy]