Why is this not selling?

Location
Ceiling Height
View
Finishes
Underlying 80s style
PTACs
Bad views
Overpriced
Insufficient building amenities

Never good to have the most expensive apartment in the building, most apartments in the building are selling for 2 or 3 million dollars, this is 5 or 6 times more expensive. Puts the buyer in a building with a different class of owners who could never afford the penthouse or anything close to it. Rich people like to live with rich people.

Never thought about it this way but you learn something new every day. Perhaps better sold as two separate units.

"Perhaps better sold as two separate units."

Exactly what I was thinking.

Sure you could separate them, the market for $13mm properties was never quite deep and is a bit weaker today. With that said, it all comes down to price.

As the CEO of Douglas Elliman recently admitted at a conference, any listing no matter who markets it will sell at the right price.

So play smart, lower your price until buyers surface and minimize your transaction and closing costs (http://www.hauseit.com/closing-costs-nyc/) with an agent managed FSBO or flat fee RLS listing. Good luck!

They haven't been combined. The guy who's owned the terraced one since 2006, bought the upstairs unit in 2011 (the seller lost about $900K on it) but never got around to combining them.