Expected major price cuts not coming

Contrary to expectations that prices would be cut significantly after Labor Day, sellers of some of the city’s most expensive properties have not deeply slashed their prices. Raphael De Niro just listed philanthropist Ephraim Gildor’s Park Laurel duplex for $28 million, only $3 million less than its previous asking price in early 2008. De Niro said sellers are not desperate enough to make significant price cuts. Lois and Georges de Menil’s townhouse at 120 East 70th Street is also on the market for $28 million, down from $33 million. Brown Harris Stevens’ Paula Del Nunzio, who is listing that townhouse, said sellers often keep their prices high because they are aware that buyers want to bargain — but some sellers are also just unrealistic.