Manhattan's luxury condo frenzy petered out a few years ago. Owners are taking realized losses as they offload properties at steep losses. A prime example of this is the pending deal at 551 W. 21st St., where two units listed for a combined $26 million found a buyer after a couple of years on and off the market, according to Bloomberg, who cited data from brokerage Olshan Realty. The owner initially acquired the property in 2016 for $31.3 million and then attempted to flip it for $40 million the following year. With no success, the owner is expected to realize...