Price Cuts: Flatiron House leads flurry of discounts near Madison Square Park; Condo with key to Gramercy Park gets $250K haircut

Flatiron House (COOKFOX | Corcoran Group)

Thursday, Aug 29, 2024 By CityRealty Staff, CityRealty contributor

Earlier this week, the new owners of the landmarked Flatiron Building filed permits to convert its office space to 60 luxury condos. The conversion will involve converting the interiors to meet residential requirements and replacing all the windows in the building so that they meet apartment noise requirements (h/t Curbed). The building's unique shape will present challenges; however, around the time the Flatiron Building sold at auction in May 2023, New York city editor Christopher Bonanos pointed out that this lends itself to homes with high ceilings, abundant light from oversized windows, and kitchen islands/breakfast nooks in the pointy end of the building.

If all goes according to plan, the first residents could move into the Flatiron Building in early 2026. However, the new condos will open in an increasingly crowded area at the nexus of three coveted Downtown neighborhoods: Chelsea, NoMad, and the eponymous Flatiron District. The area is home to other loft conversions — e.g., 10 Madison Square West — as well as new development buildings — 21W20 and Flatiron House, to name but two — competing for luxury buyers' attention. Coincidentally, listings in these buildings were among approximately 100 condo, co-op, condop, and townhouse listings that experienced price reductions from August 20-26, 2024, or just before the Flatiron Building permits were filed.

Also of note last week, a number of Upper West Side units also experienced price reductions. They are located in buildings that were part of the first wave of full-service condominiums to take shape around the Lincoln Center performing arts campus. At the time, buyers embraced these homes' modern interiors, extensive amenities, and close proximity to Central Park, popular restaurants, Midtown offices, and, of course, Lincoln Center. However, as taller and more amenity-rich new developments have taken shape on the Upper West Side, buildings in the earlier wave of development may have gotten lost in the shuffle.

A selection of notable listings, as well as a full chart detailing last week's reductions, may be seen below. Please be advised that all quotes figures reflect cumulative price cuts as opposed to the most recent reductions.

-15.4% | -$100,000

The Harmony, #4A
$549,000

Lincoln Center | Cooperative | 1 Bedroom, 1 Bath

The Harmony, #4A (Douglas Elliman Real Estate)

From the Listing: Have it all in Lincoln Square! Tastefully designed with a post-modern aesthetic, this smartly laid out and quiet apartment features oversized wall-to-wall windows and offers flexible space for living and entertaining. A custom-designed glass bar-height countertop wraps along the kitchen wall, creating the perfect at-home workspace, or gathering place for friends and family to socialize while you cook. The open-concept living and dining space offers generous seating space for entertaining guests. See floor plan and full details here.

-4.6% | -$36,000

Hudson Tower, #4R
$749,000

Battery Park City | Condominium | 1 Bedroom, 1 Bath | 833 ft²

Hudson Tower, #4R (Corcoran Group)

From the Listing: Enjoy the elegant ambience of this spacious, thoughtfully laid-out one-bedroom apartment with a separate home office at the sought-after Hudson Tower condominium. A gracious foyer welcomes you in and proceeds to a large open-concept living and dining room enriched by stunning hardwood floors, where you can relax and entertain in comfort. Off the dining area is a bright and handsome home office. See floor plan and full details here.

-21.4% | -$235,000

14 Sutton Place South, #5E
$865,000

Beekman/Sutton Place | Cooperative | 1 Bedroom, 1 Bath

14 Sutton Place South, #5E (Douglas Elliman Real Estate)

From the Listing: Welcome to this beautiful prewar home, reminiscent of a charming Parisian home in a Rosario Candela-designed building. An elegant foyer welcomes you to formal living room overlooking. The elegant kitchen has been transformed into an intimate library space with high-end appliances, marble countertops, and a windowed dining area. Relax and unwind in the windowed bathroom. Stunning herringbone floors, casement windows and period moldings complete this special home. See floor plan and full details here.

-12.7% | -$140,000

425 East 86th Street, #8A
$960,000

Yorkville | Cooperative | 2 Bedrooms, 2 Baths | 1,200 ft²

425 East 86th Street, #8A (Douglas Elliman Real Estate)

From the Listing: Welcome to Residence #8A, a bright and cheery five-room home in the perfect Upper East Side location. The living room is bathed in southern light, adorned with classic moldings, and features a charming fireplace. The dining room, designed for versatility, accommodates both dinner parties and everyday modern living. Adjacent to it is the windowed kitchen, offering ample storage and counter space. See floor plan and full details here.

-8.8% | -$96,000

156 Devoe Street, #2R
$999,000

Williamsburg | Condominium | 1 Bedroom, 1 Bath | 656 ft²

156 Devoe Street, #2R (Douglas Elliman Real Estate)

From the Listing: This boutique condominium is perfectly positioned in prime Williamsburg. Swoon-worthy residence finishes include gorgeous 8" white oak flooring and lovely porcelain tile work. Custom fabricated cabinet doors from Nobilia make the kitchen pop and the integrated appliance package beautifully complements the unique and stylish design. A washer/dryer is included in-unit for ultimate convenience as well as concealed Gree electric ducted split systems for maximum comfort year-round. See floor plan and full details here.

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-7.9% | -$86,000

The Beaumont, #8E
$999,000

Lincoln Center | Condominium | 1 Bedroom, 1 Bath | 670 ft²

The Beaumont, #8E (Compass)

From the Listing: Mint one-bedroom Lincoln Square condo features customized closets, built-in cabinets, and custom window treatments, adding a touch of sophistication to your living space. Ample storage solutions can be found in the kitchen and throughout the apartment. The kitchen boasts top-quality Bosch appliances with plenty of space for preparing meals. See floor plan and full details here.

-5.2% | -$76,000

One Riverside Park, #4R
$1,399,000

Riverside Dr./West End Ave. | Condominium | 1 Bedroom, 1.5 Baths | 836 ft²

One Riverside Park, #4R (Blu Realty Group)

From the Listing: South-facing residence features beautiful true hardwood floors throughout, open kitchen dressed in black high gloss lacquer cabinetry paired with volcanic stone countertops, designer Miele appliance and Dornbracht fixtures, and a marble powder room. The grand primary bedroom boasts multiple closets, including a walk-in, and an en suite bathroom with a separate shower stall and deep soaking tub. See floor plan and full details here.

-12.1% | -$205,000

Carlton Regency South, #21F
$1,495,000

Murray Hill | Cooperative | 2 Bedrooms, 2.5 Baths | 1,565 ft²

Carlton Regency South, #21F (Douglas Elliman Real Estate)

From the Listing: Enter this renovated residence into the sun-drenched great room, adorned with two walls of windows framing the iconic Empire State Building and One World Trade Center. The lower level sets the stage for effortless entertaining, featuring a spacious living room, separate dining area, and an open kitchen appointed with elegant white cabinets, marble countertops, a breakfast bar, and top-of-the-line appliances. Ascend the well-appointed staircase to discover a private oasis housing two spacious bedroom suites. See floor plan and full details here.

-8.9% | -$155,000

75 Wall Street, #22O
$1,595,000

Financial District | Condominium | 2 Bedrooms, 2 Baths | 1,411 ft²

75 Wall Street, #22O (Corcoran Group)

From the Listing: Residence #22O is an exquisite split corner 2-bedroom unit showcasing breathtaking river views. Spanning 1,411 square feet, this residence epitomizes modern elegance with its high ceilings, oversized 6' windows, and luxurious wide-planked Cerused oak flooring. Bathed in natural light from its south, north, and east-facing orientation, this sun-drenched apartment features a welcoming entryway, individual heat pump HVAC, and a stunning open Boffi chef's kitchen. See floor plan and full details here.

-6.6% | -$126,000

98 Front Street, #9J
$1,769,000

DUMBO | Condominium | 2 Bedrooms, 2 Baths | 920 ft²

98 Front Street, #9J (Highline Residential LLC)

From the Listing: Step into a new era of urban elegance with this exceptional condo at 98 Front Street in DUMBO. This designer-furnished residence, crafted by an award-winning interior designer, boasts a magazine-ready aesthetic. Oversized, sound-attenuated windows from ALUMIL flood the space with light while offering a tranquil retreat from the outside world. White Oak floors and 10-foot high polished concrete ceilings set the stage for easy lighting fixture installation.

Parking and storage included. Enjoy covered moving expenses and legal fees, including purchaser attorney fees. Up to three months of maintenance fees are included, as are a gas gift card for your car parked in the building's garage. See floor plan and full details here.

-6.3% | $125,000

200 Riverside Boulevard, #34C
$1,875,000

Riverside Dr./West End Ave. | Condominium | 2 Bedrooms, 2 Baths | 1,400 ft²

200 Riverside Boulevard, #34C (Keller Williams NYC)

From the Listing: Offering a luxurious urban sanctuary, this exquisite residence boasts sweeping panoramic views of the Hudson River, infusing elegance and grandeur of the cityscape. Upon entering the foyer, a spacious walk-in closet can easily be converted into a powder room if desired. To the right, the impressive primary suite awaits, complete with a walk-in closet and a bespoke ensuite bathroom. The open-concept living and dining area is captivating with unobstructed, breathtaking views of the Hudson River - a perfect backdrop for relaxing with family, hosting gatherings, or enjoying quiet moments of reflection. See floor plan and full details here.

-32% | $895,000

870 United Nations Plaza, #26D
$1,900,000

Turtle Bay/United Nations | Cooperative | 3 Bedrooms, 4 Baths

870 United Nations Plaza, #26D (Sothebys International Realty)

From the Listing: This elegant high-floor home in an iconic building was originally an oversized classic six. The sun-flooded apartment was opened to create a sophisticated apartment for both living and entertaining. The large formal dining room can be accessed from both the foyer and living room which creates a circular flow for grand entertaining. The expansive corner living room has multiple seating areas plus room for a card table. The large L-shaped eat-in kitchen with butler’s pantry is equipped with stainless steel appliances. See floor plan and full details here.

-8.2% | -$246,000

93 Worth Street, #211
$2,749,000

Tribeca | Condominium | 3 Bedrooms, 2 Baths | 1,589 ft²

93 Worth Street, #211 (Corcoran Group)

From the Listing: Filled with spectacular finishes and stunning views, this floor-through loft with a large private terrace is a rare find in the perfect Tribeca neighborhood. Ten-foot-tall beamed ceilings and 7-inch-wide white oak floors create an immediate sense of airy, open living. Ahead, a flexible space serves as an additional bedroom, home office, den or formal dining room, while the expansive south-facing living room is filled with sunlight and treetop, open-sky views that stretch across adjacent Friends of Columbus Park. See floor plan and full details here.

-18.1% | -$875,000

Flatiron House, #601
$3,950,000

Chelsea | Condominium | 3 Bedrooms, 3 Baths | 2,036 ft²

Flatiron House, #601 (Corcoran Sunshine Marketing Group)

From the Listing: Privacy abounds in this full-floor, lofty home with direct elevator entry! The elevator opens into a foyer which flows into a spacious living and dining area facing West 24th Street. The open kitchen features ample custom oak, lacquer, and ribbed glass cabinetry framed in brass, along with Calacatta Lincoln marble slab countertops and backsplashes. The primary suite, on the south side of the residence, is generously sized with a large walk-in closet. See floor plan and full details here.

-4.9% | -$205,000

The Majestic, #6K
$3,995,000

Central Park West | Cooperative | 4 Bedrooms, 3 Baths

The Majestic, #6K (Serhant LLC)

From the Listing: Expansive rooms and breathtaking views of West 72nd Street and The Dakota converge in this luminous corner co-op directly across from Central Park. The entry gallery, featuring a coat closet, is bordered by the formal living and dining rooms, which benefit from northern and western exposures, respectively. Parquet hardwood floors, oversized windows, crown molding, and custom built-ins enhance the elegance throughout. See floor plan and full details here.

-4.7% | -$250,000

36 Gramercy Park East, #2N
$5,100,000

Gramercy Park | Condominium | 3 Bedrooms, 3 Baths | 2,285 ft²

36 Gramercy Park East, #2N (Douglas Elliman Real Estate)

From the Listing: This expansive 4-bedroom/3.5-bath home seamlessly blends modern elegance with historic charm, providing a unique living experience in the heart of New York City. Upon entry through a gracious foyer, you are greeted by an open living and dining area featuring high ceilings and stunning herringbone floors. Large windows fill the rooms with natural light, creating a warm and inviting ambiance. The layout flows effortlessly into a top-of-the-line custom chef's kitchen equipped with Sub-Zero and Bosch appliances. Key to Gramercy Park included! See floor plan and full details here.

-13.7% | -$955,000

The Yorkgate, #PH16
$5,995,000

Yorkville | Cooperative | 3 Bedrooms, 3.5 Baths

The Yorkgate, #PH16 (Compass)

From the Listing: The penthouse at 25 East End Avenue is a special and unique home with 360-degree, breathtaking views of the East River and the city. Romantic in feeling, light and airy throughout, this full-floor three-bedroom, three-and-a-half bath apartment sprawls in all the right places, and is surrounded on all four sides by large, planted terraces accessible from every major room. The grand entertaining rooms—living room, study and dining room—span the entire east side of the apartment and open with French doors directly onto the north, south and east terraces.

A windowed staff room on the third floor of the building, with access to a hall bath, is included in the sale. A large storage bin in the basement also transfers with the apartment. See floor plan and full details here.

-7.1% | -$495,000

Park Millennium, #26A
$6,500,000

Lincoln Center | Condominium | 4 Bedrooms, 3 Baths | 2,656 ft²

Park Millennium, #26A (Douglas Elliman Real Estate)

From the Listing: Nestled high on the 26th floor of Lincoln Square's sought-after condominium, this convertible four-bedroom, three-bathroom residence stands out with its unique layout and exquisite renovation. Offering 2,656 square feet of living space, it boasts panoramic views from every window, capturing the vibrant energy of Central Park, Lincoln Center, and the Midtown Skyline. Upon entering, you're greeted by a spacious foyer leading to a versatile great room illuminated by natural light pouring in from three different exposures. See floor plan and full details here.

-6.3% | -$525,000

10 Madison Square West, #14F
$7,775,000

Flatiron/Union Square | Condominium | 4 Bedrooms, 4.5 Baths | 2,818 ft²

10 Madison Square West, #14F (Douglas Elliman Real Estate)

From the Listing: Located in fabulous Flatiron and overlooking Madison Square Park, Residence #14F is a spectacular mint condition home boasting soaring 11'ceilings and 6 inch wide white oak plank floors, stately base moldings, motorized shades operated by wall-based remote controls, closets outfitted by California Closets, filtered fresh air circulation and state of the art multi-zone HVAC systems. The entry gallery greets you leading to the magnificent corner Great Room with mesmerizing direct park views. See floor plan and full details here.

-3.9% | -$500,000

21W20, #PH1
$12,400,000

Chelsea | Condominium | 4 Bedrooms, 4.5 Baths | 4,841 ft²

21W20, #PH1 (Brown Harris Stevens Residential Sales LLC)

From the Listing: This exceptional full-floor penthouse is accessed directly via a keyed elevator, offering privacy and exclusivity. The expansive layout boasts grand entertaining areas and generously sized bedrooms, all bathed in natural light from the south-facing windows and floor-to-ceiling accordion glass folding doors. Two private terraces, totaling 541 square feet, further enhance the living experience, providing ample outdoor space. Both the living room and the primary bedroom suite seamlessly transition to inviting outdoor spaces, creating a harmonious blend of indoor and outdoor living. See floor plan and full details here.

-28.6% | -$6,000,000

11 Bank Street, #TH
$15,000,000

West Village | Townhouse | 6+ Bedrooms, 5 Baths | 5,855 ft²

11 Bank Street, #TH (Douglas Elliman Real Estate)

From the Listing: Located on the most desirable tree lined street in the West Village, this magnificent 24-foot-wide five-story Greek Revival townhouse offers everything one dreams of in a Village house. Behind this 1845 historic facade awaits a five-story, 5,800+ square foot, four-family house with free market rentals that has been lovingly cared for and well maintained with extensive upgrades made in 2020. 1 apartment is vacant, and the remaining 3 leases expire within the next 18 months, which would give the buyer ample time to make plans if conversion to a single-family mansion is so desired. See floor plan and full details here.

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In this article:

-15.4% | -$100,000

The Harmony, #4A
$549,000

-4.6% | -$36,000

Hudson Tower, #4R
$749,000

-21.4% | -$235,000

14 Sutton Place South, #5E
$865,000

-12.7% | -$140,000

425 East 86th Street, #8A
$960,000

-8.8% | -$96,000

156 Devoe Street, #2R
$999,000

Select which properties are of interest to you:

-7.9% | -$86,000

The Beaumont, #8E
$999,000

-5.2% | -$76,000

One Riverside Park, #4R
$1,399,000

-12.1% | -$205,000

Carlton Regency South, #21F
$1,495,000

-8.9% | -$155,000

75 Wall Street, #22O
$1,595,000

-6.6% | -$126,000

98 Front Street, #9J
$1,769,000

-6.3% | $125,000

200 Riverside Boulevard, #34C
$1,875,000

-32% | $895,000

870 United Nations Plaza, #26D
$1,900,000

-8.2% | -$246,000

93 Worth Street, #211
$2,749,000

-18.1% | -$875,000

Flatiron House, #601
$3,950,000

-4.9% | -$205,000

The Majestic, #6K
$3,995,000

-4.7% | -$250,000

36 Gramercy Park East, #2N
$5,100,000

-13.7% | -$955,000

The Yorkgate, #PH16
$5,995,000

-7.1% | -$495,000

Park Millennium, #26A
$6,500,000

-6.3% | -$525,000

10 Madison Square West, #14F
$7,775,000

-3.9% | -$500,000

21W20, #PH1
$12,400,000

-28.6% | -$6,000,000

11 Bank Street, #TH
$15,000,000

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In this article:

-15.4% | -$100,000 The Harmony, #4A$549,000

-4.6% | -$36,000 Hudson Tower, #4R$749,000

-21.4% | -$235,000 14 Sutton Place South, #5E$865,000

-12.7% | -$140,000 425 East 86th Street, #8A$960,000

-8.8% | -$96,000 156 Devoe Street, #2R$999,000

Select which properties are of interest to you:

-7.9% | -$86,000 The Beaumont, #8E$999,000

-5.2% | -$76,000 One Riverside Park, #4R$1,399,000

-12.1% | -$205,000 Carlton Regency South, #21F$1,495,000

-8.9% | -$155,000 75 Wall Street, #22O$1,595,000

-6.6% | -$126,000 98 Front Street, #9J$1,769,000

-6.3% | $125,000 200 Riverside Boulevard, #34C$1,875,000

-32% | $895,000 870 United Nations Plaza, #26D$1,900,000

-8.2% | -$246,000 93 Worth Street, #211$2,749,000

-18.1% | -$875,000 Flatiron House, #601$3,950,000

-4.9% | -$205,000 The Majestic, #6K$3,995,000

-4.7% | -$250,000 36 Gramercy Park East, #2N$5,100,000

-13.7% | -$955,000 The Yorkgate, #PH16$5,995,000

-7.1% | -$495,000 Park Millennium, #26A$6,500,000

-6.3% | -$525,000 10 Madison Square West, #14F$7,775,000

-3.9% | -$500,000 21W20, #PH1$12,400,000

-28.6% | -$6,000,000 11 Bank Street, #TH$15,000,000

Select which properties are of interest to you:

Listings in this article

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-15.4% | -$100,000

The Harmony, #4A
$549,000

-4.6% | -$36,000

Hudson Tower, #4R
$749,000

-21.4% | -$235,000

14 Sutton Place South, #5E
$865,000

-12.7% | -$140,000

425 East 86th Street, #8A
$960,000

-8.8% | -$96,000

156 Devoe Street, #2R
$999,000

-7.9% | -$86,000

The Beaumont, #8E
$999,000

-5.2% | -$76,000

One Riverside Park, #4R
$1,399,000

-12.1% | -$205,000

Carlton Regency South, #21F
$1,495,000

-8.9% | -$155,000

75 Wall Street, #22O
$1,595,000

-6.6% | -$126,000

98 Front Street, #9J
$1,769,000

-6.3% | $125,000

200 Riverside Boulevard, #34C
$1,875,000

-32% | $895,000

870 United Nations Plaza, #26D
$1,900,000

-8.2% | -$246,000

93 Worth Street, #211
$2,749,000

-18.1% | -$875,000

Flatiron House, #601
$3,950,000

-4.9% | -$205,000

The Majestic, #6K
$3,995,000

-4.7% | -$250,000

36 Gramercy Park East, #2N
$5,100,000

-13.7% | -$955,000

The Yorkgate, #PH16
$5,995,000

-7.1% | -$495,000

Park Millennium, #26A
$6,500,000

-6.3% | -$525,000

10 Madison Square West, #14F
$7,775,000

-3.9% | -$500,000

21W20, #PH1
$12,400,000

-28.6% | -$6,000,000

11 Bank Street, #TH
$15,000,000

Manhattan sales include Emmy-winning producer's CPW co-op; Closings begin at The Willow

Seven tips for getting past NYC's toughest co-op boards + Prewar gems with open houses

Price Cuts: O'Neill Building penthouse reduced by $1.25M; Cara Delevingne relists Gramercy penthouse for a loss