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Flips Gone Wrong: Broome St. Penthouse Cuts Price, Again

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The LLC-shielder buyer of the three-level penthouse in 419-421 Broome Street (the building where Heath Ledger died) may have had a flip in mind when he or she scooped up the 3,200-square-foot pad for $17 million, $3M under its asking price, in 2011. The apartment, which also features around 3,400 square feet of outdoor space, was returned to market for a whopping $25.5 million only 14 months later. Three months after that, the listing underwent a major pricechopping, reappearing for $19.5 million, and the situation seems to have gotten even more dire since then: yesterday, the penthouse was re-listed for $12,000,000, meaning that the owner, who once anticipated doubling his or her investment, is now willing to take a $5 million loss. How the mighty have fallen. The place may attract more interest this time around, though, what with the significantly lower price and also the fact that the listing now includes the part of the floorplan with the kitchen and bathrooms (which it apparently didn't before.) UPDATE: The listing was actually just split into two penthouses, listed separately for $12 million and $8.5 million. The price for the the entire penthouse remains $19.5 million. Curbed regrets the error.

· Listing: 419 Broome Street #PHB [Corcoran]
· 419 Broome Street coverage [Curbed]

419 Broome Street

419 Broome Street, New York, NY