Fewer sellers dropped their listing prices in August compared to previous months, a continuing trend according to RealtyHop's monthly price drop report.
The Upper East Side-Carnegie Hill area saw the most cuts with 120 drops after coming in second in July for neighborhoods with the most price drops. Turtle Bay-East Midtown took the second spot in August with 118 drops; it was in the top spot in July. Still both neighborhoods saw fewer cuts overall compared to July. All of the other top neighborhoods were also in Manhattan with the exception of Forest Hills, Queens.
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 Hudson Yards five-bedroom, eight-bath condo with a $4,500,000 drop to $54,500,000. A two-bedroom, one-bath co-op in Concourse had the largest percentage price cut to $210,000, down 47 percent.
Here are listings with deepest price chops according to RealtyHop's report.
Top 5 NYC addresses with the biggest dollar price drop in August
35 Hudson Yards, #PH90, Chelsea
This five bedroom, eight bath saw a $4,500,000 drop to $54,500,000. The penthouse features a private elevator landing, floor-to-ceiling windows, hardwood floors, high ceilings, Gaggenau appliances, central air, a terrace, gym, and office. Amenities include a doorman, onsite restaurants, fitness center, screening room, and terrace.
271 Central Park West, #9, Upper West Side
This six bedroom, seven bath saw a $3,500,000 cut to $19,500,000. Apartment #9 has oversized windows, recessed lighting, moldings, central air, stainless steel appliances, a private elevator landing and a wood-burning fireplace. The building has a doorman, bike storage, laundry room, storage, and a gym.
823 Park Ave., #PH, Upper East Side
This five bedroom, five and a half bath saw a $3,250,000 cut to $29,950,000. The penthouse features a private elevator landing, three private terraces, high coffered ceilings, hardwood floors, gas fireplaces, granite counters, central air, bay windows, stainless steel appliances, a hot tub, and outdoor kitchen. Amenities include a doorman, live-in super, bike storage, and gym.
15 Central Park West, #38C, Lincoln Square
This three bedroom, four bath saw a $3,200,000 drop to $19,750,000. Apartment #38C has a semi-private landing, foyer, floor-to-ceiling windows, high ceilings, Venetian plaster walls, moldings, stainless steel appliances, central air, plus all furniture and light fixtures are included in the sale. The building has a doorman, garage, gym, pool, bike storage, and roof deck.
625 Park Ave., #5A, Lenox Hill
This four bedroom, four and a half bath saw a $2,505,000 drop to $15,995,000. The co-op has a private elevator entrance, three fireplaces, hardwood floors, high ceilings, recessed lighting, stainless steel appliances, built-ins, a laundry room, and library. The building has a doorman, gym, and laundry room.
Top 5 NYC addresses with the highest percentage price drop in August
1275 Grant Ave., #5C, Concourse
This two bedroom, one bath saw a 47 percent drop to $210,000. It has hardwood and tile floors, oversized windows, and baseboard heat. The building has a gym, laundry room, and parking for $100 a month.
676 Madison St., Bedford-Stuyvesant
This two-family building saw a 39 percent drop to $800,000. The three-bedroom, two-bath duplex has hardwood floors, ceiling fans, stainless steel appliances, and a walk-in closet. There's also a two-bedroom, one-bath garden-level apartment and the building has five parking spaces.
601 Kappock St., #5P, Spuyten Duyvil
This one bedroom, one bath saw a 25 percent cut to $205,000. The renovated co-op has hardwood floors, several windows, Whirlpool appliances, a dishwasher, and through-the-wall air conditioners. Amenities include a doorman, garage, playroom, bike storage, and outdoor pool.
107-27 155th St., Jamaica
This three-family house saw a price drop of 25 percent to $300,000. It has a total of six bedrooms and three baths plus a garage.
3 East 78th St., #3ABC, Upper East Side
This three bedroom, three and a half bath saw a 25 percent drop to $4,500,000. The apartment has a private keyed elevator, hardwood floors, central air, stainless steel appliances, new electrical, millwork, custom lighting, walk-in closets, surround sound system, and alarm system. The building has a doorman.
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