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115 Allen Street Penthouse Returns Again, Asks $4.95M

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The penthouse of our old friend 115 Allen Street has returned to the market, yet again. Since May 2011, the 2,610-square-foot unit has been searching, on and off, for a new owner. The seller is the developer of the building, who designed and built the duplex penthouse for his family ('twas the subject of a 2006 Times feature), and he is clearly reluctant to lower the asking price, despite the lengthy stay on the market. The current ask is $4.95 million, which is lower than the $5.5 million ask in May 2011, but $300,000 more than the asking price last fall. That works out to $1,896/square foot.

The home has four-bedrooms, two-bathrooms, a wood-burning fireplace, three terraces, and a rooftop deck with a hot tub. There's a drop-down movie screen, radiant floor heating, and the place has a custom sound-system inside and out. Will it finally find a buyer or is the developer overestimating how much his Lower East Side pad is worth?

· Listing: 115 Allen Street, PH [Corcoran via StreetEasy]
· 115 Allen Street coverage [Curbed]

115 Allen Street

115 Allen Street, New York, NY 10002