St. Regis condo listing price cut to $8M, would be loss for sellers

Full-floor penthouse asking $500K less than what sellers paid, an increasingly common scenario for luxury deals

<p>A photo illustration of Premier Relocation founder and managing broker Susan Miner along with the St. Regis at 363 East Wacker Drive (Getty, Premier Relocation, Google Maps)</p>

A photo illustration of Premier Relocation founder and managing broker Susan Miner along with the St. Regis at 363 East Wacker Drive (Getty, Premier Relocation, Google Maps)

The sellers of a St. Regis penthouse are headed for a loss after relisting their 75th floor condo at $500,000 less than its last sale price. 

The full-floor penthouse sold in September 2021 for just under $8.5 million, and came back onto the market this week at just under $8 million, according to public listing information, all but guaranteeing a loss for the sellers. 

Its list price gives the roughly 5,700-square-foot home a price tag of just under $1,400 per square foot. 

The four-bedroom, five-bathroom condo was previously listed in the spring of 2022 at a peak asking price of $9.35 million before it was cut to just under $9 million later that summer. The home was later taken off the market and relisted as a rental property last spring, first at $30,000 per month and then $28,000, according to public listing information. 

Susan Miner, founder and managing broker of Premier Relocation, has the listing. Miner could not immediately be reached for comment Thursday afternoon. 

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This wouldn’t be the first St. Regis penthouse to sell at a loss this year as sellers and their brokers navigate a challenging condo market in which buyers are coming back but downtown property values still aren’t what they used to be. 

A 6,100-square-foot condo spanning the entire 78th floor of the St. Regis tower sold for $7 million, or roughly $1,147 per square foot, in April resulting in a loss of more than $1 million.

Those sellers, Blake and Beth Horio, bought the condo in the 95-story building for nearly $8.2 million in December 2021 and put it on the market a month later, originally asking $10 million. 

Like the 75th floor home, the Horios also took multiple price cuts, down to $7.6 million last fall, and tried to rent out the home in 2022, seeking $50,000 a month.

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