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1BR Plaza Hotel Condo Gets Reduced $5.9 Million

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Though the Plaza has seen far bigger sales in its brief history as a condo/hotel, former model Patty Farmer's $5.6 million purchase (which closed back in 2008) was interesting enough to make some news for two reasons: 1) The $5.6 million apartment has just one bedroom, and 2) Within months Farmer put it back on the market for $8.4 million. Her struggle to sell the place earned a mention in a Bloomberg News story back in 2009. Clearly the trouble stemmed from the sagging post-Lehman real estate market, and not the $7,000/sqft asking price for a place that needs a pull-out couch.

The 1BR/1.5BA condo on the eighth floor was taken off the market a long time ago, but one record-setting $48 million Plaza resale later, it's back! Is Farmer feeling just as confident this time around? Er, no: The new asking price through Corcoran is $5.9 million. A PriceChop that big almost makes this feel like a bargain! Just, uh, don't have a kid or anything. Here's 1,202 square feet of Plaza floorplanage:

· Listing: 1 Central Park South - Apt: 805 [Corcoran]

The Plaza

768 5th Avenue, Manhattan, NY 10019 Visit Website