The downtown monument of bonkers and audacious real estate flips is on the radar again. The anonymous owner of Walker Tower's Penthouse 5 has relisted the 3,396-square-foot digs for $22 million. For an apartment in the Art Deco gem where other penthouses are asking $70 million and $42.75 million, $22 million may seem a modest sum. But here's the thing: Penthouse 5 was purchased in January 2014 for a mere $14.25 million, meaning the buyer's seeking more than $7 million than they paid for it slightly over two years. If that doesn't seem outrageous enough, here's a little something else: the buyer initially listed the property for $25 million, meaning this listing is both a flip and price chop of epic proportions.
· Listing: 212 West 18th Street PH5 [Corcoran via StreetEasy]
· Walker Tower Seller Seeks 75% Profit With $25M Penthouse [Curbed]
· Why Flipping Pricey Condos Is About to Get Tougher [Curbed]
· All Walker Tower coverage [Curbed]