After years of sluggish — or virtually non-existent — sales at Saxa’s the Prime condominium at 333 West 14th Street, between Eighth and Ninth avenues, a late-summer uptick in sales has left the 10-story, nine-unit condo with only one unit left on the market. Why the sudden surge? “I think price has a lot to do with it,” said Michael Katz, RP Miller’s on-site sales associate. His group kicked off a new sales effort at the development a year ago (note: correction appended). Almost immediately after taking the helm, RP Miller slashed asking figures, and invited carolers to sing outside an open house at the project. Two weeks ago, RP Miller & Associates closed on its eighth unit: a 4,000-square-foot, three-bedroom, three-bathroom penthouse with three balconies and a private roof terrace that sold for $4.1 million, Katz said. Back when sales launched in September 2006, the asking price was $9.5 million. It was reduced to $7.5 million in January this year, and then finally to $5.9 million in July. TRD

The unit to see the biggest price cut today is a two-bedroom,
two-and-a-half-bath co-op at 50 Gramercy Park North, apartment 2B,
according to Streeteasy.com. The price of the apartment was cut by
$600,000 to $4.4 million. The home, which has a 637-square-foot
terrace and hotel services through the Gramercy Park Hotel, is listed
for 27 percent less than its asking price of $5.9 million when it first
hit the market in December 2008. The Corcoran Group’s Chris Kann and
Robert Browne have the listing. Over the weekend, a 5,400-square-foot penthouse at the Prime, a
building that has suffered significant price drops, saw a dramatic 38
percent price cut, according to its developer Daren Hornig. The price
of the three-bedroom, three-bath triplex at 333 West 14th Street
was
cut by $3.6 million to $5.9 million. TRD [more]