The Real Deal New York

Manhattan’s $5M-to-$10M resi market is softening

Over-priced "dead wood" is moving at a snail's pace

December 30, 2015 03:40PM
By E.B. Solomont

From left: A rendering of 111 Murray Street in the Financial District, Halstead's Robin Schneiderman and BHS's Lisa Lippman

From left: A rendering of 111 Murray Street in Tribeca, Halstead’s Robin Schneiderman and BHS’s Lisa Lippman

From the December issue: When the actor Christopher Meloni tried (unsuccessfully) to sell his apartment overlooking Central Park in 2012, he asked an ambitious $12 million for the sprawling pad at the Park Imperial on 56th Street. This time around, listing agent Brian Lewis of Halstead Property offered a piece of contrarian advice to the “Law & Order” star.

“I looked carefully and saw that a lot of other apartments [in the building] weren’t moving,” said Lewis, who urged Meloni to go for a lesser price of $8.9 million, which he got in September, after three months on the market. [more]

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