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Chinese Businessman's Odd Osborne Loft Returns at 60% Off

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The Osborne loft of Hong Kong businessman Eric Hotung has returned to market, with gloomy listing photos that seem to mirror this apartment's rough time on the market. Initially listed back in 2009 for just under $2M, the odd unit—with no bedroom but an elaborate bathroom—saw its price skyrocket to a ridiculous $3.5M in June 2010, before falling back to Earth in the Fall of 2011, to $1.75M. Now, the architecturally impressive, residentially impractical flat is back, listed for $1.5M. No one is crying for the octogenarian Hotung, a billionaire descendant of one of Hong Kong's most prominent families, but he hasn't had the best time selling at the Osborne, one of midtown's most desirable pre-war buildings. His other unit in the building was also listed back in 2009, but took until this October to finally sell, at a 20 percent discount, for $3.2M.
· 205 West 57th Street #4AA [BHS via Streeteasy]
· 205 West 57th Street #9C [Streeteasy]

The Osborne

205 West 57th Street, New York, NY