The Real Deal New York

The biggest price cuts on luxury pads
last week

A townhouse in Carnegie Hill received the biggest reduction
By Miriam Hall | June 07, 2017 07:00AM

Clockwise from left: 132 East 70th Street, 14 East 93rd Street and 39 Charlton Street

This townhouse was once a star on “Law & Order,” but in today’s residential market, it’s just another victim.

The six-bedroom Upper West Side property at 41 West 70th Street hit the market for $22.8 million back in 2013, but has now had its price slashed several times in the past four years. Last week, the price was reduced again, and the home is now on the market for $16 million.

It’s not alone. In total, seven pads asking more than $10 million had price reductions of more than 5 percent last week, according to data from StreetEasy.

But, it’s not all gloomy news. Over the past month, more than 120 contracts on Manhattan homes asking $4 million and above were signed, according to Olshan Realty.

Here’s a look at some of the city’s biggest price reductions:

14 East 93rd Street
Previous Price: $16.3 million
Current Price: $13.9 million ($2,068 per square foot)
Percentage Drop: 14 percent

Built in 1892, this townhouse was part of a row of six townhouses by Walter Reid, Jr. Spanning just over 6,700 square feet, there are five bedrooms and six full bathrooms. The home features renovated eat-in kitchen, a landscaped garden and an elevator that reaches all four floors.

Mayree Clark, the founder of investment management firm Eachwin Capital, and her husband Jeffrey Williams paid $3.1 million for the home in 1996, according to StreetEasy’s records. It hit the market in 2015 at $18.3 million, and the price has been reduced twice. The property is now asking $13.9 million, and Brown Harris Stevens’ Paula Del Nunzio has the listing.

132 East 70th Street

132 East 70th Street
Previous Price: $21.5 million
Current Price: $18.9 million ($2,700 per square foot)
Percentage Drop: 12 percent

This townhouse hit the market in May last year, with a $28.5 million price tag. It was cut by $4 million in November, and then again by 12 percent in February. Last week, another 12 percent was shaved off the asking price and it’s on the market for $18.9 million, nearly $10 million down from its original ask.

The house has six bedrooms and five bathrooms across 7,000 square feet, according to the listing. It was designed by Herbert Baer in 1913 for Julius Goldman of the Goldman Sachs family. Stribling’s Beatrice Ducrot has the listing. She was not immediately available for comment.

39 Charlton Street
Previous Price: $13.9 million
Current Price: $12.3 million
Percentage Drop: 12 percent

This 25-foot-wide federal row house has seven bedrooms and four full bathrooms. Built in 1827, it is used as a single-family home although it has a certificate of occupancy for three units. There are double parlors with floor-to-ceiling windows, plaster moldings, marble moldings and a back garden.

The home and its location has some impressive historical credentials. The home was once owned by William Sloane Coffin, who went on to be the president of the Metropolitan Museum of Art. Luminaries such as George Balanchine, Martha Graham and Jackie Onassis have all been entertained in the home, according to the listing.

Charlton Street is in the Charlton King Vandam Historic District, and was once part of Richmond Hill, which was home to George Washington, John Adams and Aaron Burr. Douglas Elliman’s Leslie Mason and Dexter Mason have the listing.

121 Washington Place

121 Washington Place
Previous Price: $14.5 million
Current Price: $12.8 million
Percentage Drop: 12 percent

This is price cut No. 2 for entertainment lawyer Rosemary Carroll and record industry executive Danny Goldberg’s West Village townhouse. First listed for $16.8 million, it’s now down to $12.8 million. The home was built 1831 and completely remodeled in 1925 in the Georgian Palladian style, according to the listing.

The home has quite a starry history. The poet Edwin Arlington Robinson wrote his collection “The Town Down the River” at the house and Frances Perkins, the first woman appointed to a United States Cabinet position (Secretary of Labor), lived there. Patti Smith, writer Willa Cather, Muhammad Ali, Jimmy Carter and Hillary Clinton have all visited the house, according to the description on StreetEasy.

Douglas Elliman’s Leslie Mason and Dexter Mason have the listing.

“I think these reductions [on both 121 Washington Place and 39 Charlton Street] are now reflective of a very good value,” said Leslie Mason.

41 West 70th Street
Previous Price: $17.7 million
Current Price: $16 million ($1,999 per square foot)
Percentage Drop: 9 percent

Built in 1891, this 8,000-square-foot home — featured in an episode of “Law & Order,” according to the New York Post — has been been on and off the market for four years. First listed for $22.8 million in August 2013, it’s been reduced ever since. Now asking $16 million, the home has six bedrooms and seven bathrooms. It’s been renovated by the current owner, and there’s now two full-floors of entertaining space, a windowed cellar, a grand living room, a terrace that overlooks the skyline along Central Park West and a landscaped garden.

Leslie J. Garfield’s Richard Pretsfelder has the listing. He was not immediately available to comment.