Is 2021 the Year of the Penthouse for Manhattan?
Amid ongoing news of the condo-collapse tragedy, one might think it's not a great time to try to sell an apartment in what the New York Times calls a "troubled" tower, and especially not at an asking price of $169 million. But that's exactly what's happening in Manhattan, where the 96th-floor penthouse apartment is up for sale at 432 Park Avenue, a building beset with some issues, according to residents. Those include creaking walls, elevators stymied by high winds, and millions of dollars in water damage from leaks in the building's middle and top. And yet the penthouse is now up for grabs at a price the Times calls "one of the most ambitious listings in the country since the start of the pandemic." The building's developers tell the Wall Street Journal the issues detailed by the Times are being rectified. Olshan Realty President Donna Olshan, per the Times: "This is like a try-God price" and "I just think rich people want what they want. Their money overrides all else, even sensibility." And one last jaw-dropping figure: Annual taxes on the penthouse are $177,730.