The Real Deal New York

The 5 biggest price chops on luxury pads last week

Townhouse at Delos’ 66 East 11th Street has been slashed by 27%

November 02, 2016 08:00AM
By Miriam Hall

Clockwise from left:

Clockwise from left: 66 East 11th Street, 212 West 18th Street, 443 Greenwich Street, 48 West 70th Street, 7 East 76th Street

Call a doctor! Prices at a health-focused development in Greenwich Village seem to be ailing.

The biggest price chop in the over-$10 million market last week was the Delos Living townhouse with vitamin C-infused shower water at 66 East 11th Street. The asking price for the townhouse — which boasts “wellness features” like a circadian lighting system — has been downsized by 27 percent, to $12.7 million.

It’s certainly not the only pricey pad in the city where frowning sellers are lowering their expectations. Data provided to The Real Deal by StreetEasy for the period between Oct. 24 and Oct. 28 show significant price reductions on a number of properties — some of which have already been slashed several times before.

Here’s a look at the other biggest price cuts in New York City for the week:

66th East 11th Street

66th East 11th Street

66 East 11th Street, Townhouse
Previous Price: $17.5 million
Current Price: $12.7 million ($1,901 per square foot)
Percentage Drop: 27 percent

The townhouse in this condominium conversion — where the one-and-only Leonardo DiCaprio owns a place  — was first listed back in March for $17.5 million. It sat on the market for seven months and last Monday the asking price was lowered to $12.7 million, a reduction of 27 percent. Delos Living is selling the pad, which spans more than 6,700 square feet across three floors, as a “white box” to be completed by the new owner. Opportunity abounds!

In April, the penthouse in the building — which has vitamin C-infused showers, purified air and posture-supporting flooring — sold for $26 million, nearly half of the unit’s initial asking price.

Steven Gold TRData LogoTINY of Town Residential has the townhouse listing. He declined to comment.

7 East 76th Street

7 East 76th Street

7 East 76th Street
Previous Price: $50 million
Current Price: $42 million ($3,000 per square foot)
Percentage Drop: 16 percent

Built in 1898, the Clarence Whitman mansion spans approximately 14,000 square feet across six floors and a basement. The property, which is fully serviced by an elevator, has a gym with a ballet barre and a penthouse floor with a solarium and terrace. There are two kitchens, nine bedrooms, five full bathrooms and four half bathrooms. And did we mention it has several secret passageways?

The Neo-Renaissance-style mansion hit the market at $50 million back in September last year, but the asking price was reduced to $42 million last week. Bungo Shimada, a Japanese billionaire philanthropist, has owned the property since the early 1990s.

The listing agent is Stan Ponte from Sotheby’s International Realty. Ponte could not be reached for comment.

433 Greenwich Street

443 Greenwich Street

443 Greenwich Street, Unit 3F
Previous Price $11.2 million
Current Price: $10 million ($2,707 per square foot)
Percentage Drop: 11 percent

Nathan Berman’s Metro Loft Management first tried to sell this 3,600-square-foot unit for $10.5 million in September 2014. The price was bumped up three times until it reached $11.2 million in September 2015. But price hikes failed to do the trick, and the unit was price-slashed back down to $10 million last month.

The apartment has four bedrooms and four-and-a-half bathrooms. The building has a 71-foot indoor swimming pool, a Turkish bath and a temperature-controlled wine cellar.

Earlier this year, Metro Loft found a buyer for a $54 million penthouse at the building. The restored condo complex also caught the eye of star Jennifer Lawrence, who was spotted checking the place out last year. Cantor & Pecorella are marketing the apartments at the building. No one from the company was available for comment.
212 West 18th Street

212 West 18th Street

212 West 18th Street
Previous Price:$19.9 million
Current Price: $17.9 million ($5,299 per square foot)
Percentage Drop: 10 percent

This duplex penthouse in Walker Tower spans 3,396 square feet and has three bedrooms and four full bathrooms. There’s also a 190-square-foot terrace. The apartment has floor heating and electric shades and blinds. According to reports, the unknown owner tried to sell it for $25 million in 2014.

StreetEasy’s records show the asking price has been reduced several times this year, with its most recent chop to the tune of 10 percent. Brokers Leighton Candler and Leslie Chiecko of Corcoran have the listing. Neither were available for comment.

48 West 70th Street

48 West 70th Street

48 West 70th Street
Previous Price: $16.7 million
Current Price: $15.4 million ($2,025 per square foot)
Percentage Drop: 8 percent

First listed in June for $16.7 million, this townhouse was reduced by 8 percent last week. Spanning more than 7,600 square feet, it has elevator access from the garden level up to the fifth floor. Built in 1891 and designed by architects Thom and Wilson, the townhouse features six bedrooms and seven bathrooms, as well as a “great room” with 21-foot ceilings. The property has a full basement and a wine cellar

Deborah Grubman, David Adler and Paul Albano of Corcoran have the listing. Adler and Albano could not be reached. Grubman declined to comment.

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