Panic at The Plaza: Buyer Will Take a Loss on 17th Floor Pad - NBC New York

Panic at The Plaza: Buyer Will Take a Loss on 17th Floor Pad

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    Panic at The Plaza: Buyer Will Take a Loss on 17th Floor Pad

    Now is the winter of The Plaza's discontent. Already locked in some nasty litigation over a pair of penthouses, the condo/hotel has also been dealing with a serious outbreak of flipperitus. But we weren't panicking. As we said back then, until we see an apartment sold at a loss, The Plaza is still aces with us. Well, that unfortunate event may be approaching. Braden Keilreports that moneyman Oscar Schafer has reduced the asking price of his 17th floor 3BR condo to $14.5 million, the second big drop from an initial ask of $18 million in June. This means that the 2,841-square-foot apartment (on the building's hot corner—Fifth Ave. and CPS) is now listed at a loss. Schafer paid $14.94 million for the place in May, Keil reports. Those not afraid of a little blood and guts can check out the listing for themselves.

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    · Listing: 1 Central Park South [Sotheby's]
    · Plaza pain [NYP, fifth item]

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