An odd couple like Felix Ungar and Oscar Madison living under the same roof—a penthouse duplex and a tower triplex at 480 Park Avenue are two apartments on the same market, but existing in different worlds. Tower triplex 21A looks like an apartment caught in a terrible amber-colored trap of dated decor and finishes. Penthouse 16-17B is a duplex that also has dated finishes, but the date just happens to read within the last year or so. The tipster who brought this pair to our attention pointed out that 21A still has great fundamentals: "It has huuuge terraces, high ceilings, and 'great bones'." It's also been pricechopped several times from $8.5 million to $6.5 million in 14 months. Its younger more confident neighbor-apartment downstairs was taken off the market three months ago at more than triple(!) the price, or $19.75 million.
Here are the side-by-side comparisons. Is the seller of the duplex asking for far too much for the space, or will the buyer of 21A be in for some quick flip upside after updating the triplex's interiors?
|Bathrooms||3 Full/2Partial||5 Full|
|Square Feet||3,500 sf||N/A|
|Price per SqF||$1,857||N/A||Asking||$6.5 million||$19.8 million|