Speaking of flips, here's an example of one that is going less than smoothly. 249 Central Park West hasn't managed to win the heart of a prospective buyer—despite that fact that it's a, you know, actual castle with turrets and everything—since it was listed for $30 million in October of 2011, and the price has been slowly creeping ever closer to the $14.4 million that the current owner shelled out five years prior. A month after it was first (re)listed, the ask was chopped to $25 million, then the listing disappeared for a while, resurfaced as a rental last year, and has now made its less-than-triumphant return to market, asking a mere ("mere") $19,900,000. The top two floors are still gutted, or, as the current listing frames it "most of the demolition work has been completed in preparation for the building's metamorphosis," and there's no mention of an underground basketball court, which means that that ship, unfortunately, has probably sailed. But it's still got the "Tiffany era stained glass windows," and the turrets, of course. As long as it's still got those turrets, everything's going to be okay.
· Listing: 249 Central Park West [Corcoran]
· 249 Central Park coverage [Curbed]