Manhattan sellers slashed their listing prices even more in January compared to December, with the most price cuts in the same neighborhoods as previous months, according to RealtyHop's monthly price drops report.
Turtle Bay-East Midtown saw the most price cuts for the second consecutive month, with 177 cuts compared to 118 in December. Once again, the Upper East Side-Carnegie Hill took the second spot, with an increase to 147 cuts compared to 108 in December. Lincoln Square jumped to the third neighborhood with the most cuts, after being fourth in December, and saw a total of 112 drops, up from 94.
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 four-bedroom, six-bath condo on the Upper East Side, which saw a $7,400,000, or 18 percent, slash to $32,500,000. For the apartments with the highest percentage price drops, Brooklyn, Queens, and the Bronx made the list, which is typically dominated by Manhattan, taking the top three spots.
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 January
1010 Park Ave., PH, Upper East Side
This four bedroom, five and a half bath saw a price drop of $7,400,000 to $32,500,000. The penthouse has 6,745 square feet of living space across two floors, and also features high ceilings, walk-in closets, millwork, private terraces, a library, an eat-in kitchen, and en suite baths in all of the bedrooms. Building amenities include a 24-hour doorman, residents lounge, screening room, bike storage, and a fitness center with a pool.
15 Central Park West, #PH1819A, Upper West Side
This five bedroom, six and a half bath saw a price drop of $7,100,000 to $57,900,000. The penthouse has hardwood floors, floor-to-ceiling windows, a gas fireplace, private elevator, central heating and air conditioning, motorized shades, custom closets, and two terraces. The apartment also comes with a service studio, wine cellar, and two storage units. Building amenities include a concierge, elevator attendants, fitness center with a pool, parking garage, screening room, and library.
157 West 57th St., #62B, Theater District
This three bedroom, three and a half bath saw a price drop of $4,000,000 to $19,900,000. Apartment #62B has hardwood floors, 11-foot ceilings, floor-to-ceiling windows, Miele appliances, central air conditioning, walk-in closets, radiant heat floors in the baths, and laundry room. Building amenities include a doorman, bike storage, fitness center, pool, and parking garage.
625 Park Ave., #4FL, Upper East Side
This six bedroom, seven and a half bath saw a price drop of $2,550,000 to $24,950,000. The co-op has a grand foyer, coffered ceilings, built-ins, multiple fireplaces, a library, gym, billiard room, chef's kitchen, stainless steel appliances, walk-in closets, and a staff quarter with a laundry room. Building amenities include a doorman.
111 East 56th St., #PH19, Midtown East
This three bedroom, two bath saw a price drop of $2,505,000 to $5,995,000. The co-op has a private entrance gallery, hardwood floors, beamed ceilings, built-ins, stainless steel appliances, walk-in closets, a home office, and wraparound terrace. Located in The Lombardy Hotel, building amenities include a doorman, 24-hour concierge, twice-daily maid service, valet parking, and a fitness center.
Top 5 NYC addresses with the highest percentage price drop in January
2925 West 5th St., #15C, Coney Island
This two bedroom, one bath saw a price drop of 43 percent to $480,000. The condo has hardwood floors, high ceilings, custom moldings, built-ins, stainless steel appliances, custom radiator covers, new windows, and a balcony. Building amenities include a doorman, concierge, 24-hour security, gym, laundry room, storage facilities, and a dog park.
1624 Sedgwick Ave., Morris Heights
This multi-family building saw a price drop of 37 percent to $949,999. The entire building, which was built in 1925, is being sold vacant. The building has a driveway, hardwood floors, recessed lighting, stainless steel appliances, built-ins, and storage.
17031 Grand Central Parkway, Hillcrest
The five bedroom, three bath saw a price drop of 33 percent to $449,000. The house is being sold with the tenant in place. It has hardwood floors, moldings, a fireplace, balcony, full basement, backyard, private driveway, and detached garage.
138 Broadway, #PHG, Williamsburg
This three bedroom, three bath saw a price drop of 32 percent to $2,695,000. The condo has hardwood floors, high ceilings, recessed lighting, designer light fixtures, stainless steel appliances, central air conditioning, a laundry room, home office, terrace, and private roof deck with an outdoor sauna. Building amenities include a full-time super, laundry rooms on each floor, bike storage, and a garden.
111 East 56th St., #PH19, Midtown East
This three bedroom, two bath saw a price drop of 29 percent to $5,995,000. The penthouse features beamed ceilings, lots of windows, built-ins, storage spaces, stainless steel appliances, walk-in closets, an in-unit washer and dryer, and and a wraparound terrace. Located in The Lombardy Hotel, building amenities include a doorman, concierge, maid service, dry cleaning service, a fitness center, and business center.
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