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The Observer reports what has been rare in real estate over the last 18 months, a bidding war over a Manhattan condo at new condo conversion 15 Madison Park North (15 East 26th Street). According to the price history of the unit on, the initial listing price was $13.5mm, but it was reduced to 11.5mm, and then to $9.95mm before it was allegedly bid back up to $12mm where it did close.

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