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61 Fifth Avenue Cuts Prices, Launches Sales for a Third Time

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Beleaguered boutique condo development 61 Fifth Avenue has turned sales over to Corcoran and created new listings for all four of its units, now priced from $9.95 million to $24.95 million. The apartments in the Alta Indelman-designed building were first listed in July of 2013, with Sotheby's handling sales, the cheapest unit asking $12.975 million, and the penthouse asking $28.5 million. Almost a year later, in April of 2014, the project was turned over to Elliman broker Fredrik Eklund, who reduced the price of least expensive unit and raised the price of the penthouse. But it seems that even Eklund, who has sold the unsellable in the past, wasn't able to move one of these units. (The staggering monthly costs—$22,072 for the penthouse, $12,132 for the smallest unit—are likely not helping matters.) Perhaps the third time (and the pricechops) will be the charm.

· Listings: 61 Fifth Avenue [Streeteasy]
· 61 Fifth Avenue coverage [Curbed]

61 Fifth Avenue

61 Fifth Avenue, New York, NY