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

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]