Manhattan sellers made even fewer cuts to their listing prices in December compared to previous months, but the borough continues to have the most price cuts across the city, according to RealtyHop's monthly price drops report.
Turtle Bay-East Midtown had the most price cuts with a total of 118, down from 159 in November. The second neighborhood with the most price cuts was the Upper East Side-Carnegie Hill, which had the most cuts in November, with a total of 108 price drops—a considerable decline from 171 cuts in November. Two of the apartments with the highest dollar price drops were located in the neighborhood.
In its monthly price drop report, RealtyHop identifies neighborhoods with the highest total number of price cuts. It also highlights areas with the biggest percentage drop in median price, and the biggest median dollar price drop.
The apartment with the highest dollar price drop was a three-bedroom, three-and-a-half bath condo in the Theater District, which saw a $2,000,000, or 7 percent, cut to $24,900,000. A three-bedroom, six-bath condo in Two Bridges' One Manhattan Square made both lists for highest dollar and percentage price drops, with a $1,697,000, or 25 percent, cut to $4,950,000.
Below is a look at the listings with deepest price chops identified in RealtyHop's report.
Top 5 NYC addresses with the biggest dollar price drop in December
220 Central Park South, #36B, Midtown
This three bedroom, three and a half bath saw a price drop of $2,000,000 to $24,900,000. The condo has floor-to-ceiling windows, high ceilings, white oak hardwood floors, millwork, custom moldings, Sub-Zero and Miele appliances, a dressing room, powder room, and an in-unit washer/dryer. Amenities include a 24-hour doorman, concierge, library, screening room, and fitness center.
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115 Central Park West, #28EF, Upper West Side
This two bedroom, four bath saw a price drop of $1,950,000 to $9,950,000. The floor-through co-op features 360 degree views of Central Park, parquet floors, oversized windows, crown molding, recessed lighting, stainless steel appliances, a chef's kitchen, and library. Amenities include a 24-hour doorman, fitness center, bike storage, courtyard, roof terrace, and laundry room.
252 South St., #59J, Two Bridges
This three bedroom, six bath saw a price drop of $1,697,000 to $4,950,000. The condo has hardwood floors, floor-to-ceiling windows, panoramic views, Miele and Sub-Zero appliances, a breakfast bar, powder room, walk-in closets, and in-unit laundry. Amenities include over one acre of private outdoor space, a 24-hour doorman, concierge, bike storage, fitness center, wine room, and on-site parking.
502 Park Ave., #PH22, Upper East Side
This seven bedroom, eight bath saw a price drop of $1,495,000 to $16,500,000. The penthouse has a private elevator landing, hardwood floors, coffered ceilings, crown molding, built-in shelves, multi-zone central air conditioning, motorized shades, a built-in surround sound system, formal dining room, and two powder rooms. Amenities include a full-time doorman, concierge, housekeeping services, fitness center, and valet parking.
960 Park Ave., #3W4C, Upper East Side
This five bedroom, five bath saw a price drop of $1,495,000 to $10,500,000. The duplex has high ceilings, south-facing windows, oak floors, crown molding, recessed lighting, built-in shelves, pocket doors, stainless steel appliances, a wood-burning fireplace, and library. Amenities include a doorman, live-in super, two storage bins, and a gym.
Top 5 NYC addresses with the highest percentage price drop in December
100 West 57th St., #4JK, Theater District
This three bedroom, three bath saw a 43 percent price drop to $799,000. The co-op has an entry foyer, carpet, a wall of mirrors, large windows, and walk-in closets. Amenities include a doorman, bike storage, garage parking, and a laundry room. The owner is eager to sell so all reasonable offers will be considered, according to the listing.
66 West 138th St., #4A, Central Harlem
This one bedroom, one bath saw a price drop of 29 percent to $395,000. The renovated condo, shown virtually staged, has hardwood floors, exposed brick walls, modern light fixtures, five windows, and stainless steel appliances.
252 South St., #59J, Two Bridges
This three bedroom, six bath saw a price drop of 25 percent to $4,950,000. The condo has an entry foyer, floor-to-ceiling windows, a windowed kitchen with a breakfast bar and pantry, ensuite baths in all of the bedrooms, central air conditioning, and an in-unit washer/dryer. Amenities include a doorman, fitness center, bike storage, package pantry, bowling alley, and a covered dog run.
250 West 90th St., #17K, Upper West Side
This four bedroom, three and a half bath saw a price drop of 25 percent to $3,950,000. The condo has hardwood floors, built-in bookshelves, high ceilings, double-pane windows, custom closets, stainless steel appliances, a powder room, automatic blinds, and a Miele washer and dryer. Amenities include a 24-hour doorman, fitness center with a pool, roof deck, concierge, and laundry rooms on every floor.
40 East 80th St., #23A, Upper East Side
This three bedroom, three bath saw a price drop of 24 percent to $1,195,000. The co-op has a large entry foyer, hardwood floors, crown molding, walk-in closets, built-in storage, stainless steel appliances, and a balcony. Amenities include a laundry room and storage locker. It's located in a landlease building, which will be renegotiated in April 2022.
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