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Three-Apartment Combo on Park Ave. Would Like $11M More

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A three-bed, 3.5-bath apartment entered the sales market in July of 2014, asking $25M. The very same home, in the Trump Park Avenue building that used to be the Delmonico Hotel, just re-listed—with an ask of $36 million. What's up with the PriceUpper? This bonkers market could make the sellers, who are shielded behind an LLC, think they can fetch more. These anonymous folks picked up three separate units over eight years, and combined them into a stylish-yet-staid, very Upper East Side residence. (They bought sponsor unit 15D in 2005, back when the building was first converted, for $3,894,806. After an attempt to doff 15D for $11.5M that ended nowhere, they got greedy. In 2013, Park Real Estate LLC nabbed 15C for $2,275,000 and 15E for $1,950,000.) Do the math: they shelled out a total of $8.1 million, not including renovation costs. So, in an attempt to justify this state of affairs, maybe all that positively grueling grunt work that the architect and interior designer had to do to combine 'em is worth the a 56 percent increase from 2014's ask. UPDATE: A Corcoran broker said, "The owners wanted to raise the price since the apartment has now been combined and renovated." That means that the $25M price tag was for the uncombined, unrenovated version. H'okay.

· Listing: 502 Park Avenue #15CDE [Corcoran via StreetEasy]
· All Trump Park Avenue coverage [Curbed]

502 Park Ave.

502 Park Avenue, New York, NY 10022