The upcoming auction of three former celebrity penthouses at Cassa Hotel & Residences, originally targeted at $50 million, is now set at a minimum reserve of $30 million.
The auction represents a significant price reduction and reflects ongoing challenges in the luxury real estate market, where listings, some lingering since 2011, struggle to attract buyers.
Each unit at the Cassa Hotel, which housed stars like Rihanna and French Montana, can be bid on separately with a reserve of $10 million to $12 million.
The Cassa units showcase luxury amenities, including an IMAX theater and a golf simulator, combined with extensive personal space across three floors.
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