“Everyone is reaching for the sky in terms of pricing -- we’re all guilty of that,” he said. “Billionaires don’t like to throw money away either, and overpay.”
Sadove lowered the price for his Faena House condo to $12.95 million from $14.5 million because of “market conditions,” according to the unit’s listing agent, Pablo Alfaro, of Douglas Elliman.
For potential buyers of Griffin’s Faena House penthouse, which has a 71-foot infinity-edge pool and listed for $55 million, the cooling market may be of less importance. Shoppers are part of a fairly small and exclusive group, said real estate agent Mick Duchon.
“It’s definitely slowed down, although there is some interest because it’s such a unique asset,” said Duchon, who has the listing with fellow Douglas Elliman agent Eloy Carmenate. “It’s an exclusive building at a high price point, so interest is targeted.”