The biggest price cuts on luxury pads last week

Jackie O’s childhood home received the biggest reduction

New York /
Nov.November 23, 2016 10:00 AM

Looking for a presidential pad steeped in history, but don’t want to break the bank? Well, that isn’t happening. But you can find a former First Lady’s childhood abode for a bit of a discount.

This week, the biggest price reduction on a luxury property was at The 740 Park Avenue duplex where a young Jacqueline Bouvier lived with her parents in the 1930s. Last week, the Rosario Candela-designed duplex was slashed from $32.5 million to $29.5 million, a reduction of 9 percent.

It wasn’t the only pricey pad to receive a reduction last week, although there were fewer properties with slashed asking prices than in previous weeks.

In total, four properties in the over-$10 million market were discounted by more than 5 percent in the period from Nov. 11 through Nov. 21, according to data provided by StreetEasy. Here’s a look at the biggest price cuts in New York City’s luxury market last week:

740 Park Avenue, 6/7A

Previous Price: $32.5M

Current Price: $29.5M

Percentage drop: 9 percent

The owner of this palatial duplex, Hedge fund manager David Ganek, had high hopes that this property would fetch top dollar. In 2014, not long after Ganek dropped $28 million on a condominium at Jared Kushner’s TRData LogoTINY Puck Building in Soho, the financier and his novelist wife Danielle listed the duplex for $44 million.

But apparently buyers weren’t moved by the co-op’s links to Jackie O, at least not enough to shell out $44 million. In April, the price was dropped to $32.5 million. It was reduced again last week, and is now asking $29.5 million.

The two-floor unit has preserved its 1920s-era architecture. It features four bedrooms, four bathrooms, a “baronial” living room (yes, fit for a baron!), a marble gallery, a library and multiple staff rooms.

Tal Alexander and Oren Alexander of Douglas Elliman have the listing, along with Serena Boardman and Jeremy Stein of Sotheby’s International Realty. Boardman and Tal Alexander declined to comment.

20 West 53rd Street, Apartment 47

Previous Price: $23.8M

Current Price: $22M ($4,827 per foot)

Percentage drop: 8 percent

This four-bedroom pad at Tribeca Associates and Starwood Capital Group’s Baccarat Hotel and Residence was listed in December 2014 for $27 million. In August, the listing was taken from Corcoran and given to Douglas Elliman, and the asking price was slashed to $23.8 million.

Last week, the property was discounted again, this time by 8 percent. The apartment, which spans 4,557 square feet, is now asking $22 million. The interiors at the apartment were designed by Tony Ingrao, and it features a private entry foyer complete with a Baccarat chandelier and a gourmet eat-in kitchen. The building amenities include access to the Baccarat Hotel, the swimming pool, private cabanas and the fitness center.

In June, the building’s penthouse was sold following a price chop. The most recent asking price was $54 million, down from the original ask of $60 million.

Gail Sankarsingh, Lauren Muss and Janice Chang of Douglas Elliman have the listing. The brokers did not return requests for comment.

55 West 90th Street

Previous Price: $12.9M

Current Price: $11.9M ($1,713 per foot)

Percentage drop: 8 percent

This 7,000-square foot townhouse was first listed for $12.9 million back in September. Last week the seller — which records show to be real estate investment firm Omek Capital — shaved $1 million off the asking price.

Featuring six bedrooms and seven full bathrooms, this Upper West Side townhouse has four separate outdoor areas, including a backyard, two balconies and a rooftop. Built in 1900, it stretches across seven stories, and has an elevator, a steam shower and a wine room.

Gregory Williamson of Douglas Elliman has the listing. He did not return requests for comment.

980 Fifth Avenue, apartment 18A

Previous Price: $11.9M

Current Price: $11.2M

Percentage drop: 6 percent

This 18th floor co-op apartment has four bedrooms, four bathrooms and panoramic views of Central Park and the city skyline.

First listed back in April for $12.9 million, the property has already received two price reductions. The current asking price is $11.2 million, a 6 percent reduction from its previous asking price of $11.9 million.

The apartment features an eat-in kitchen, a library and two walk-in closets.

This 26-story co-op building was constructed in 1966, on the site of an 1887 mansion, according to StreetEasy. Last year, Daniel Tisch, the grandson of late Loews Corporation owner Larry Tisch, bought two apartments in the building for a combined $19.6 million. In 2014, Italian billionaire Pier Luigi Loro Piana bought a 19th-floor apartment in the building for $11.3 million.

Property records shows Romain Hatchuel to be the current owner. Hatchuel, a native of France, paid $7.5 million for the apartment in 2011.

Scott Stewart, Cathy Franklin and Alexis Bodenheimer of Corcoran have the listing. They declined to comment.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Barstool Sports founder Dave Portnoy (Getty)
Barstool Sports’ Dave Portnoy bought a Hamptons beach house
Barstool Sports’ Dave Portnoy bought a Hamptons beach house
1 Central Park West and Andrew Napolitano with Donald Trump (Trump Org, Getty, iStock)
Judge Andrew Napolitano ditches Trump condo after Fox News ouster
Judge Andrew Napolitano ditches Trump condo after Fox News ouster
Alex Rodriguez - businessman, philanthropist and former professional baseball player - in front of the Beresford (Getty Images, Wikipedia/David Shankbone, Illustration by Steven Dilakian for The Real Deal)
A-Rod’s $10M co-op deal approved after “tantrum”
A-Rod’s $10M co-op deal approved after “tantrum”
Justin Timberlake - celebrity singer, songwriter, producer and actor - in front of 443 Greenwich (Wikipedia/Gage Skidmore, Compass, iStock/Illustration by Steven Dilakian for The Real Deal)
Justin Timberlake says “Bye Bye Bye” to 443 Greenwich
Justin Timberlake says “Bye Bye Bye” to 443 Greenwich
Country superstar Kenny Chesney (Zillow, Getty Images, iStock)
Better boat? Kenny Chesney sells Nashville-area home
Better boat? Kenny Chesney sells Nashville-area home
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...