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Gramercy Park penthouse that once fetched $22M relists for $8.5M

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The duplex penthouse of 50 Gramercy Park North has been on and off the market since 2011

Courtesy of Halstead

A Gramercy Park penthouse that was once listed for $25 million dollars has reappered on the market seeking much, much less. The penthouse in question is the topper of 50 Gramercy Park North, the building developed by Ian Schrager that has formerly played home to designer Karl Lagerfeld, late Flyers owner Ed Snider, and art collector Alberto Mugrabi. The apartment, which last sold for $22 million in 2011, is now seeking a mere $8.5 million with Halstead.

The duplex penthouse made headlines in 2010 when its former owner, Icelandic businessman Jon Asgeir Johannesson, was sued by the tenant of a lower-floor apartment for, among other things, dropping chewed up chicken wings from the penthouse balcony onto the terrace below. (You can’t make this stuff up.)

But that was eight years ago. In the interim, Johannesson sold the apartment to its current owner, a different Icelander by the name of Eyjólfur Gunnarsson. The businessman paid $22 million for the five-bedroom, three and a half bathroom spread before relisting the pad for $21.4 million about five months later. And here’s the sad part: the apartment has been on and off the market ever since, relisting today with its lowest asking price in a decade.

Its weird history aside, the penthouse is quite lovely with 50 feet of frontage along Gramercy Park, a large master suite with a wood-burning fireplace and two walk-in closets, and a south-facing terrace that overlooks the storied park.

50 Gramercy Park North

50 Gramercy Park North, New York, NY 10010