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Fifth Ave Richard Meier Pad Swaps Brokers and Cuts Price

When this two bedroom in the Sherry Netherland first came on the market last August, it was asking an astounding $11.5M, a price fueled in part by a Richard Meier-designed interior. Apparently, that starchitect's name wasn't enough to find a buyer, so the price soon entered free fall, down to $10M by November and $9.25M in December, before Brown Harris Stevens lost the listing at the end of January. Now, the place is back, with Corcoran at the wheel and a new, much lower price: $7.9M. That's a whopping $3.6M off the original price in less than six months. Part of the problem might be the personalized layout and built-ins, including a bedroom converted into an enormous, 23-foot walk-in closet with park views, which has effectively turned this into a very, very expensive one bedroom.

· 781 Fifth Avenue #705/04 [Streeteasy]
· NYC Flat Gets the White-on-White Richard Meier Treatment [Curbed National]

Sherry-Netherland

781 5th Avenue, New York, NY 10019