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.
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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.
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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.