Business
Donald Trump’s former Treasury Secretary Steven Mnuchin sells Park Ave, Manhattan apartment after 21 per cent price cut – The Australian Financial Review
The former Treasury Secretary under US President Donald Trump reduced the $US32.5 million figure on the storied Park Ave co-op as buyers now prefer new condos.
New Yorks luxury co-ops a symbol of old-school prestige have been struggling to find buyers as new high-end condo skyscrapers proliferate across Manhattan, offering more amenities, better views and fewer rules and restrictions on daily life. As a result, luxury condos have been outselling co-ops nearly every year for a decade, Olshan data show.
This year through to April 25, there were 406 deals for condos listed at $US4 million or higher, compared with just 108 co-op purchases in that price category,…
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