Former Yankee Jorge Posada Sells NYC Apartment for $9.5 Million

After being on the market for nearly a year, retired New York Yankee Jorge Posada finally sold his Upper East side condo. But the ultimate sale price isn’t exactly a home run. According to new reports, the five-time All-Star accepted an offer of $9.5 million, nearly 20 percent below his original asking price. Posada initially listed the full-floor 5,600 square foot property last December for $11.5 million — and slashed the price three more times — the latest of which brought the ask down to $9.3 million.

Located inside the Seville at 300 East 77th Street, the unit boasts four bedrooms, 5.5 bathrooms and an option to convert a room into an additional bedroom, according to the listing. The master suite has his and hers baths with spa showers, walk-in closets and dressing areas. The home also has a media room and a kitchen with double Wolf ovens and teak cabinetry.

The property initially stood as two separate units, 11A and 11B, which Posada and his wife, Laura, combined over several years. They purchased the first apartment for $3.2 million in 2003 and the second for $3.6 million in August 2007, public records show.

Though there is no word yet on the buyer’s ID, but a source with knowledge of the deal says the above-ask sales price was the result of a bidding war. “If anybody’s looking for an apartment that’s over 5,000 square feet, that’s turnkey, that has all the amenities, there’s not that much out there,” reveals the insider.

The Seville was designed by architect Robert A.M. Stern and built in 2001. The 31-floor building includes a 3,295-square-foot health club, a terrace and a parking garage.

Source: The Real Deal