The Real Deal New York

The biggest price cuts on luxury pads last week

Upper West Side townhouse received the biggest reduction
By Miriam Hall | April 25, 2017 05:44PM

From bottom right: 58 West 75th Street, 85 Charles Street, 320 Central Park West #22B, 230 West 56th Street #64A

Not even a “sky duplex” can escape this storm of price chops.

Last week, one of the biggest reductions in the city’s luxury market was the Naftali Group’s 234 East 23rd Street, with the sky duplex condominium there getting a 10 percent reduction.

In total, seven homes in the over-$10 million market were reduced by 5 percent or more in the period from April 17 through April 24, according to data from StreetEasy.

Here’s a look at the biggest price reductions on luxury pads:

58 West 75th Street

58 West 75th Street
Previous Price: $16 million
Current Price: $14 million ($1,647 per square foot)
Percentage Drop: 13 percent

This 8,500-square foot townhouse was on the market for just over a month before it received a $3 million price cut. The renovated home spans seven stories, and features six bedrooms and nine bathrooms. There’s also a private elevator, a wine room and outdoor space, according to StreetEasy. Avi Feldman, founder of real estate investment firm Omek Capital, owns the property, records show.

Gregory Williamson of Douglas Elliman has the listing. He was not immediately available for comment.

230 West 56th Street #64A

230 West 56th Street, 64A 
Previous Price: $33 million
Current Price: $29 million ($3,625 per square foot)
Percentage Drop: 12 percent

Once owned by Jacob “Kobi” Alexander, the former CEO of Converse Technology and convicted fraudster, this 8,000-square-foot condo just got a 12 percent price reduction.

It’s now asking $10 million less than its original price tag. The Park Imperial pad first hit the market in June 2016 for $39 million, and has been chiseled down ever since. Alexander paid $8.6 million for the place in 2001, records show, and sold his three units at the building for a combined $35.2 million in 2010.

The building’s residents have included Deepak Chopra, actor Daniel Craig and Equinox CEO Harvey Spevak.

Last month, Sean “Diddy” Combs sold his apartment in the building for $5.7 million, after four years on the market and an original asking price of $8.5 million.

Douglas Elliman’s Harry DiOrio and Megan Butler have the listing. They were not immediately available for comment.

85 Charles Street

85 Charles Street 
Previous Price: $17.5 million
Current Price: $15.5 million ($3,145 per square foot)
Percentage Drop: 11 percent

Built in 1868, this 20-foot-wide townhouse was first listed in February 2013 asking $18.5 million, but was later taken from the market after it failed to sell. Four years later, it’s back for sale but now asking a reduced $15.5 million. The home spans nearly 5,000 square feet, is 20 feet wide and was renovated by Hottenroth + Joseph Architects, according to the listing. It has five bedrooms and four full bathrooms, a Swarovski crystal-walled powder room, an eat-in kitchen and a rooftop garden.

Brown Harris Stevens’ Cassie Foley Glover and Rachel Glazer have the listing.

“There was no movement at $17.5 million,” Glover said of the price they tried earlier this year. “If you do the comps, there’s not anything really on the market between $15 million and $20 million in the West Village — there’s a lot at $25 million, and a few unicorns at $39 million and $50 million.” She said they thought $17.5 million was the highest possible price, so they decided to try it, and added that there has been a lot of interest now the price has been reduced.

320 Central Park West #22B

320 Central Park West, 22B 
Previous Price: $20 million
Current Price: $18 million
Percentage Drop: 10 percent

When this Ardsley co-op was listed in January, it was the first time the five-bedroom place had been on the market in three decades. Last week, it was reduced by 10 percent, or $2 million. It has four full bathrooms, two terraces, a library and a living room with 15-foot ceilings. The Ardsley, designed by Emery Roth, has a newly renovated lobby, a fitness center and a children’s playroom, according to StreetEasy.

In 2012, actor David Duchovny was in contract to purchase an apartment in the building.

Stribling’s Alexa Lambert, Merrill Curtis and Marc Achilles have the listing. They were not immediately available comment.

234 East 23rd Street, Sky Duplex

234 East 23rd Street, Sky Duplex 
Previous Price: $12.5 million
Current Price: $11.2 million ($2,720 per square foot)
Percentage Drop: 10 percent

The asking price of this five-bedroom condo at Naftali’s 234 East 23rd Street  was just cut back by $1.2 million last week. Spanning 4,135 square feet, the unit has two north-facing terraces, an open layout kitchen with Quartzite work surfaces. It hit the market in September 2016 asking $12.5 million. Back in October, DJ Khaled toured the building, according to the New York Post.

The building amenities include a library, rooftop space and a gym. Steven Gold and Dana Power of Town Residential have the listing. Neither broker was immediately available for comment.