Marlon Wise's Blog: After 6 years, Gramercy Park penthouse now asking half its original price

It listed in 2011 for $21.4 million, and now it wants just under $9M

The onetime home of Icelandic financier, Jón Ásgeir Jóhannesson (who is embroiled in various legal troubles in his own country), is back on the market, albeit for significantly less than its original ask. Jóhannesson sold this penthouse unit at 50 Gramercy Park North to another Icelandic businessman for $22 million in early 2011.

The new owner however was ready to part with it very quickly, and by June of that year, the penthouse was back on the market for $21.4 million. It's been a struggle to sell the apartment ever since.

Since that time, the owner has reduced the ask numerous times going from $21.4 million down to $18.9 million, then $14.9 million, then $12 million, and now it's trying its luck again for $8.99 million. At least the owner has stuck with the same brokerage firm throughout.

Now let's take a look at the apartment real quick. The 4,235-square-foot duplex comes with three bedrooms and three-and-a-half bathrooms. The unit has floor-to-ceiling windows, wood-burning fireplaces, and two private terraces with great views of the city, among other features. Will it finally sell this time around?