We noticed yesterday that at least one floor of the penthouse at 1020 Fifth Avenue had finally sold for $26.5 million, after four years of on-and-off listings asking as much as $50 million. The Journal reveals today that it was actually the entire penthouse that sold, in the unit's first resale since the building was finished in 1925. So why the major discount? Perhaps it's the fact that the apartment has hardly been altered since the death of original owner Samuel Kress in 1955. [WSJ; previously]
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