The Real Deal New York

The biggest price cuts on luxury pads
last week

A four-story Village townhouse received the largest price reduction
By Miriam Hall | May 17, 2017 07:00AM

Clockwise from bottom left: 62 West 12th Street, 1 Central Park South #1801, 19 West 12th Street, 84 Mercer Street #4E

From popsicles … to chopsicles.

One of the biggest price chops last week was on a townhouse owned by frozen-food entrepreneur Elisabeth de Kergorlay. The Greenwich Village townhouse was listed for $35 million last year, and is now on the market for a more chilly $24.5 million after several reductions.

In total, 10 homes in the over-$10 million market were reduced by more than 5 percent last week, according to data provided by StreetEasy.

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

62 West 12th Street
Previous Price: $14 million
Current Price: $12 million ($3,157 per square foot)
Percentage Drop: 14 percent

This four-story townhouse, owned by Marc Jacobs president Robert Duffy, hit the market in April last year for $17 million. But, following three price cuts, it’s now on the market for $12 million — just $1.7 million more than the price Duffy paid in 2013.

The 3,800-square-foot home has five bedrooms and four bathrooms, according to the listing. There’s also hardwood flooring, an 18-foot glass atrium, a gourmet kitchen and a private garden.

Douglas Elliman’s Frank Arends and Daniela Zakarya have the listing. Neither broker was available for comment.

1 Central Park South, #1801

1 Central Park South, 1801
Previous Price: $17.7 million
Current Price: $16 million ($3,937 per square foot)
Percentage drop: 10 percent

This 4,064-square-foot Plaza Hotel apartment has three bedrooms and four full bathrooms, and is owned by Bolat Nazarbayev — a fertilizer tycoon and the brother of Kazakhstan dictator Nursultan Nazarbayev. First listed in October for $17.7 million, the home has been at the center of a complex family feud. Bolat has filed several lawsuits against his ex-wife Maira and his nephew Daniyar Nazarbayev in regards to the ownership of the apartment.

The home has wood and marble inlaid floors, a chef’s kitchen, a formal dining room and marble entry foyer. Plaza residents have access to a 24-hour concierge and the health club and gym. Lafayette Realty Partners’ Francis Caamano and Mehdi Ettouati has the listing.

“We wanted to test the market and we found that the luxury market is recovering slowly, and did not yet reach the pre-crisis peak,” Ettouati said.

84 Mercer Street, 4E
Previous Price: $11.5 million
Current Price: $10.5 million ($2,560 per square foot)
Percentage Drop: 9 percent

Interior designer Betsy Morgan and her husband Jonathan Cary listed this 4,100-square foot loft for $11.5 million in April 2016, but last week it was slashed by 9 percent. The four-bedroom, four-bathroom home features a private elevator, a 900-square-foot living room, white pine flooring, LED lights and soundproof ceilings and floors.

The unit is in the same building as Meg Ryan’s apartment at 5E, which recently went into contract last asking $10.9 million.

Warburg Realty’s Jason Haber and Deborah Ribner have the listing.

“Apartment 5E went into contract and we were responding to that. … We don’t know what the price was, but we heard there was some negotiability,” said Haber, of the reduction.

19 West 12th Street
Previous Price: $26.5 million
Current Price: $24.5 million 9$3,720 per square foot)
Percentage Drop: 8 percent

This Greenwich Village townhouse hit the market asking nearly $35 million last year, and has been steadily reduced ever since. It’s now asking $24.5 million, after being reduced by another 8 percent.

The home has five bedrooms and five bathrooms and is 25-feet wide, according to the listing. There’s a chef’s kitchen, six fireplaces and a planted rooftop garden. The master bathroom has 450 square feet of Italian Calacatta marble that runs the width of the townhouse, complete with its own fireplace, cast iron bathtub and freestanding shower.

Elisabeth de Kergorlay, a frozen-food entrepreneur, paid $13.5 million for the home in 2008, which was reportedly once owned by Meryl Streep.

The Corcoran Group’s Pamela Johananoff, Leighton Candler and Bradely Comisar have the listing. The brokers were not available to comment.