The biggest price cuts on luxury pads

Trophy units at 15 CPW, 30 Park Place and Time Warner Center all saw price reductions

TRD New York /
Oct.October 04, 2017 08:00 AM

It’s time for a trim.

As the luxury portion of Manhattan’s residential market continues to flounder, truly motivated trophy property sellers are making moves. And this week we witnessed hefty price cuts at some of the city’s most prestigious address, like 15 Central Park West, 30 Park Place and Time Warner Center.

Here’s a look at the biggest price reductions:

15 Central Park West #8B

15 Central Park West, 8B
Previous Price: $29.5 million
Current Price: $25 million
Percentage Drop: 15 percent

The biggest reduction in the over $10-million market, according to data provided by StreetEasy, was a $4.5 million reduction on a newly renovated, 3,478-square-foot, park-facing spread at Robert A.M. Stern’s famed 15 Central Park West. The apartment listed with Compass in February asking $33 million. This summer, the owner tried for a less ambitious $29.5 million. Today, it is asking just $25 million.

25 Columbus Circle #65B

25 Columbus Circle #65B
Previous Price: $11.5 million
Current Price: $10 million
Percentage Drop: 13 percent

Time Warner Center is one of the most coveted condo buildings in the city – especially for nefarious foreign buyers – but even there sacrifices must be made. This two bedroom aerie boasts expansive Central Park views, and now it is priced to sell. Thomas Lee of Foretree Corp listed the property for $11.5 million last June. Now, after a 13 percent reduction, the owner is asking a mere $10 million.

60 West 9th Street
Previous Price: $16.8 million
Current Price: $15 million
Percentage Drop: 11 percent

This Greenwich Village townhouse has spent nearly 600 days on the market and the price just keeps falling. Corcoran’s Timothy Scott first listed this elegant five-bedroom townhouse in February of 2016 for $19.5 million – then at $18 million, $16.8 million and now $15 million.

137 Duane Street, 3A
Previous Price: $14 million
Current Price: $12.5 million
Percentage Drop: 11 percent

Meanwhile in Tribeca, this airy 5,822-square-foot Tribeca loft began its life on the market with a $15 million dollar price tag earlier this year. Reality show broker Fredrik Eklund and his business partner John Gnomes have since reduced the ask twice, first to a smidge under $14 million and finally to $12.5 million.

The gallery-like space feature original factory columns, 14-foot ceilings and what the listing describes as “one of the largest, handcrafted custom closets in NYC.”

30 Park Place, 65A
Previous Price: $13 million
Current Price: $11.6 million
Percentage Drop: 11 percent

The owners of this seven-room spread in Robert AM Stern’s new Four Season-brand residences in downtown Manhattan must really want to move. Within six months of paying a bit over $13 million for their new hotel-style apartment, the LLC that owns this four-bedroom slapped it right back on the market for almost exactly what it paid. Now, it appears that they are happy to take a $1.4 million loss. Douglas Elliman’s Alexander team is now shooting for just $11.6 million.


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

For 15 years, David Koch lived at the world’s “richest building”
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
155 West 11th Street and 1100 Park Avenue (FXFOWLE; Google Maps)

Manhattan luxury market shows tentative signs of activity

Manhattan luxury market shows tentative signs of activity
Clockwise from bottom left: Robert Reffkin of Compass, John Gomes, Scott Rechler of RXR Realty, Rich Barton of Zillow, Gary Keller of Keller Williams and Don Peebles of The Peebles Corporation (Getty)

“America is in crisis:” Real estate leaders address George Floyd protests

“America is in crisis:” Real estate leaders address George Floyd protests
16 Sutton Place (Credit: Google Maps)

Sutton Place co-op in turmoil over terrace fees

Sutton Place co-op in turmoil over terrace fees
Molly Townsend (Getty, iStock)

Ex-Douglas Elliman sales manager Molly Townsend joins Triplemint

Ex-Douglas Elliman sales manager Molly Townsend joins Triplemint
New home listings in Manhattan are up for the 4th week in a row. Contract signings, not so much. (Getty; iStock)

Manhattan resi listings are up while contracts “limp along”

Manhattan resi listings are up while contracts “limp along”
arrow_forward_ios

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

Loading...