421 West 144th Street

The Manhattan home to see the biggest price cut today is an eight-bedroom, eight-bathroom four-story duplex townhouse at 421 West 144th Street on the corner of Hamilton Terrace, according to Streeteasy.com. The price of the 5,629-square-foot Hamilton Heights home was reduced by $700,000, to $2 million, marking a 26 percent price reduction. Listed by MLX’s Gavin Parker, this townhouse can be purchased in its entirety or as separate units for prices ranging from $635,000 to $1.3 million. The space was first placed on the market in July by MLX. This is the townhouse’s first price reduction. TRD [more]

From the June issue: If developers think selling new condominiums in Manhattan is tough, they should try finding buyers for high-end townhouses. Pricey, older townhouses appeal to a tiny percentage of buyers — by one broker’s estimate, just 3 percent of house hunters are looking for a townhouse — and as a result, they’ve always taken longer to sell than condominiums. But since the real estate market crashed, townhouses are proving even more difficult than usual to sell, and when properties do change hands, it’s only after steep price reductions. “The townhouse market has been a little on the slow side,” said Anne Snee, a senior vice president at the Corcoran Group. “Townhouses are trickier to market. It’s taking longer than normal for everything to sell.” [more]