realtor.com; Jason LaVeris/FilmMagic
The long-awaited opening of the Second Avenue Subway has not helped “Livin’ La Vida Loca” singer Ricky Martin sell his Yorkville condo.
After failing to find a buyer, the singer and “The Voice Australia” judge has had to slash the asking price of his 3,147-square-foot condo, which has been on the market since October, from $8.4 million to $7.1 million.
His pad is located at 170 East End Ave., a Peter Marino-designed luxury condominium overlooking Carl Schurz Park in the Upper East Side’s Yorkville neighborhood, close to the East River.
The area’s property market is widely expected to see a boost in demand after the Second Avenue Subway finally opened on Jan. 1 after nearly a century of planning and stops and starts, driving up property prices.
This, however, has not helped Mr. Martin, 45, find a buyer for the four-bedroom apartment, which includes two master suites with six-foot tubs, four-and-a-half bathrooms, a study, multiple walk-in closets and white oak parquet floors, according to the listing.
According to property records, the apartment was purchased through an LLC called Munico Properties in 2012 for $5.9 million and data from realtor.com showed that the name associated with the transfer is Fernando Fernandez, who appears to be Mr. Martin’s half-brother.
This is not the only real estate move Mr. Martin has made lately. In November, he snapped up a $13.5 million, 11,300-square-foot mansion in the Beverly Crest neighborhood of Beverly Hills, close to the famous Beverly Hills Hotel.
A spokesperson for Mr. Martin and Dennis Mangone of Douglas Elliman Real Estate, the listing agent for the Manhattan condo, did not respond immediately to requests for comment.
This story was written by Kathryn Hopkins and originally appeared on Mansion Global.
The post Ricky Martin Cuts Price of NYC Condo by More Than $1M to $7.1M appeared first on Real Estate News & Advice | realtor.com®.
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