Is Tom Brady's Time Warner Center Apartment Overpriced?

For years it has seemed like golden boy quarterback Tom Brady couldn't fail. Championships, check, endorsement deals, check, gorgeous girlfriend; check, great real estate deals, check and maybe recheck. Brady did well in Boston when it comes to real estate, converting a townhouse into condos he sold at a profit but he can't seem to unload his ultra fancy New York pad in the Time Warner Center. It's not for lack of trying. As the New York Post's Gimme Shelter column reports it was listed for $16.5 million back in February 2007 with the Corcoran Group. Then, as my colleague Jared Paul Stern mentioned, it popped back on the market this July for $18.29 million listed with new broker, Prudential Douglas Elliman. Now at its current listing price of $17.75 million it still seems overpriced. Certainly other celebrities and non-celebrities have sold at a profit there. Ricky Martin bought it in 2004 for $6.8 million and sold it in September 2006 for $9.75 million. Brady's apartment was listed at $14.5 million when he bought in 2006 which may have been closer to the market's peak.

Brady's apartment is a three-bedroom, three-bath home on one of the highest floors of the Mandarin Oriental Hotel and Condominium at Time Warner Center. It's full of well designed furniture and has details such as black lacquered doors, ebony finished walnut wood floors, Venetian plastering and of course it boasts beautiful views of the city. Given the current real estate climate though, Brady may want to price it in the $15 million range and get out now while he still can.