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Manhattan sellers continued to slash listing prices in October, with even more cuts in the usual neighborhoods than previous months, according to RealtyHop's monthly price drops report.
Turtle Bay-East Midtown had the most price cuts with a total of 259, an increase from 180 in September. The previous top neighborhood, Upper East Side-Carnegie Hill, which had 188 cuts in September—saw 224 cuts in this latest report. The other top five neighborhoods, which are all the same Manhattan neighborhoods as the last report, had 168 to 184 price cuts.
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 biggest dollar price drop was a five-bedroom, seven-bath condo in Hell's Kitchen, which saw a $12,500,000, or 17 percent, price cut. A West Village five-bedroom, five-and-a-half bath condo made both lists for biggest dollar price and percentage drops, with $5,005,000, or 33 percent, slashed from the listing price.
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 September
25 Columbus Circle, #PH80, Hell's Kitchen
This five bedroom, seven bath saw a price drop of $12,500,000 to $62,500,000. The penthouse has a private elevator entrance, floor-to-ceiling windows, hardwood and marble floors, multiple fireplaces, crown molding, central air conditioning and heating, stainless steel appliances, a Creston system, and electronic shades. Amenities include a 24-hour doorman, concierge services, valet garage parking, a terrace, gym, and pool.
80 East 10th St., #PH, Greenwich Village
This five bedroom, five and a half bath saw a price drop of $5,005,000 to $9,995,000. The two-story condo has a private elevator entrance, 10-foot ceilings, custom millwork, wide-plank hardwood floors, LED recessed lighting, Miele stainless steel appliances, walk-in closets, multi-zone central air conditioning and heating, and multiple terraces. Amenities include a roof deck, virtual concierge, bike storage, and a private sculpture garden.
625 Park Ave., #4FL, Upper East Side
This six bedroom, seven and a half bath saw a price drop of $5,000,000 to $27,500,000. The apartment has recessed lighting, multiple fireplaces, crown molding, a screening room, library, gym, billiard room, walk-in closets, a chef's kitchen with a pantry, and stainless steel appliances, staff quarters, and a laundry room.
240 Centre St., #PH, Little Italy
This four bedroom, four and a half bath saw a price drop of $3,400,000 to $11,500,000. The apartment is located in the former NYPD headquarters and features sky lights, large windows, high ceilings, recessed lighting, multiple terraces, an elevator, electronic security surveillance system, central air conditioning and heating, radiant heated floors in the baths and kitchen, and a room in the clock tower. Amenities include a full-time resident manager, concierge, doorman, gym, and a garden.
522 West 29th St., #10C, Chelsea
This three bedroom, three and a half bath saw a price drop of $3,120,000 to $11,980,000. The duplex has a private elevator landing, floor-to-ceiling windows, hardwood floors, a gas fireplace, stainless steel appliances, multiple terraces, and a master suite with a private terrace, walk-in closet, and en suite bath with marble radiant-heat floors. Amenities include a 24-hour doorman, gym, spa, storage facilities, and private parking spaces are available for purchase.
Top 5 addresses with the highest percentage price drop in September
465 Park Ave., #27A, Midtown East
This two bedroom, two bath saw a price drop of 35 percent to $1,950,000. The co-op has white marble floors, recessed lighting, central air conditioning, lots of closet space, stainless steel appliances, electronic shades, and panoramic views. Located in the Ritz Tower, amenities include concierge services, a fitness center, and party room. There's a 3 percent flip tax to be paid by the buyer.
303 East 57th St., #43G, Midtown East
This four bedroom, four and a half bath saw a price drop of 34 percent to $950,000. The co-op has white marble floors, soundproof windows, walk-in closets, recessed lighting, built-in shelves, a terrace, powder room, maid's room, and laundry room. Amenities include 24-hour doormen, concierge services, a spa, gym, pool, and parking garage.
100 West 57th St., #12K, Theater District
This one bedroom, one bath saw a price drop of 34 percent to $299,000. The apartment has walk-in closets, large windows, central air conditioning, stainless steel appliances, a marble bath, and a home office. Amenities include a doorman, garage, laundry room, and bike storage. It is located in a land-lease building.
80 East 10th St., #PH, Greenwich Village
This five bedroom, five and a half bath saw a price drop of $9,995,000. The condo has a marble gas fireplace, floor-to-ceiling windows, a chef's kitchen with a Calacatta marble waterfall island, chevron hardwood floors in the bedroom, and walk-in closets. Amenities include a landscaped roof deck, bike storage, and a private sculpture garden.
30 East 31st St., #5A, NoMad
This one bedroom, one bath saw a price drop of 33 percent to $1,325,000. The apartment has wide-plank hardwood floors, high ceilings, large windows, Bosch, Sub-Zero and Wolf appliances, and multi-zone air conditioning and heating. Amenities include an attended lobby, bike storage, storage units, a private dining room, fitness center, and garden.
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