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Future New York

Price Cuts: Four-bed at The Dakota slashed by $3.8M; Majestic Brooklyn Heights house trimmed by $500K

From July 14-20, 2026, fewer than 200 condos, co-ops, condops, and townhouses in core New York City areas experienced price reductions. This is almost one-third fewer listings than the previous week and comes in the middle of a quieter summer sales season.

The largest cut of the week was for the penthouse at The Sohmer Piano Building, which was initially listed for $25 million in November 2024 and has been on and off the market before being offered through Concierge Auctions. The $8.25 million listing price reflects the current high bid, and buyers have until Wednesday, July 29 at 5:00 p.m. to place a bid.

The Sohmer Piano Building, #PH (Sothebys International Realty)

In this article:

Cannon Point South, 45 Sutton Place South
Cannon Point South, 45 Sutton Place South Beekman/Sutton Place
750 Park Avenue
750 Park Avenue Park/Fifth Ave. to 79th St.
1111 Park Avenue
1111 Park Avenue Carnegie Hill
The Dakota, 1 West 72nd Street
The Dakota, 1 West 72nd Street Central Park West
Trump Parc, 106 Central Park South
Trump Parc, 106 Central Park South Midtown West

Price trimmed on award-winning Brooklyn Heights townhouse

25 Grace Court, Brooklyn Heights townhouse 25 Grace Court, #TH (Compass)
Last week's price cuts also included 25 Grace Court, a 30-foot-wide townhouse dating back to 1861 and located on a one-block cul-de-sac in the Brooklyn Heights Historic District. Public records show that it has not changed hands since the 1980s, and the current owner embarked on a facade restoration that included masonry cleaning, brick repointing, brownstone repair, and replication of rotted wood elements at the bay window, balcony, and cornice. Brooklyn Eagle notes that this is all the more impressive because the sole guide was a 1940s tax photo, and it was honored with the Lucy G. Moses Preservation Award, also known as the Oscars of preservation, in 2007.
While 25 Grace Court's exteriors were restored to their original glory, the interiors underwent a multi-year renovation into a single-family mansion. Period details like ceiling medallions, fretwork transoms, and entry doors with Tiffany glass were preserved, and the home now boasts a living room with bay window and fireplace, a dining room with custom Gracie wallpaper and built-in bar, a chef's kitchen, a primary suite with dual en suite baths, and a home theater.

It was initially listed for $16.75 million in September 2023 and has been on and off the market since then. Most recently, it returned to the market for $15 million in MONTH, and the latest price cut brings it down to $14.5 million.
The reduction at 25 Grace Court comes shortly after 192 Columbia Heights, another townhouse in Brooklyn Heights, set new sales records for the borough. At $24.5 million, it represents Brooklyn's highest-priced sale in 2026 and the highest price per square foot in the borough's history. 192 Columbia Heights' broker, Ravi Kantha of Serhant, told The New York Times that the sale represents "a new Gilded Age renaissance for townhouses," one that 25 Grace Court could very well be a part of.

25 Grace Court, #TH (Compass)

Built-in shelving trend among price cuts

85 Calyer Street, Greenpoint townhouse Modern built-in shelving at Chelsea Modern, 447 West 18th Street, #2A | https://www.cityrealty.com/nyc/chelsea/chelsea-modern-447-west-18th-street/32001/2A/KVnNqholwGL
A number of last week's price-reduced listings featured built-in shelving, a feature that can be both a blessing and a drawback depending on the buyer. In smaller apartments where every square foot counts, built-ins provide valuable storage without the need for bulky bookcases or extra furniture. They can also transform awkward niches and underused corners into functional space.

Well-proportioned shelving can photograph beautifully and lend even a modest apartment a custom, polished feel. For avid readers, it offers an elegant way to display a personal library, while others may use it for artwork, framed photographs, or decorative objects.
Yet built-in shelving is far from universally appealing. Deep or oversized units can make a room feel darker and smaller, and while they can help define spaces such as a home office or dining area, they may also reduce flexibility when arranging furniture.

Shelving built around windows, radiators, or air conditioning units can raise questions about what lies behind it, while highly ornate or trend-driven designs may feel dated or too tailored to someone else's taste. Unlike freestanding furniture, built-ins can be costly to modify or remove, making them a feature buyers generally want to love exactly as they find it.
Modern built-in shelving at Chelsea Modern, 447 West 18th Street, #2A |  https://www.cityrealty.com/nyc/chelsea/chelsea-modern-447-west-18th-street/32001/2A/KVnNqholwGL Modern built-in shelving at Chelsea Modern, 447 West 18th Street, #2A | https://www.cityrealty.com/nyc/chelsea/chelsea-modern-447-west-18th-street/32001/2A/KVnNqholwGL

Price-reduced listings with built-in shelving

The Dakota, #74 (Douglas Elliman Real Estate)

15 Madison Square North, #16BC (Compass)

1111 Park Avenue, #2BH (Corcoran Group)

85 Calyer Street, #TH (Daniel Gale of Brooklyn LLC)

Cannon Point South, #PHF/G (Olshan Realty Inc)

Chelsea Modern, #2A (Douglas Elliman Real Estate)

645 West End Avenue, #10C (Douglas Elliman Real Estate)

The Dorchester, #2E (Corcoran Group)
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Legendary Towers, #1 (Compass)

University Mews, #410 (Douglas Elliman Real Estate)


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



Recently Reduced Listings


55 Warren Street, #4 (Leven Real Estate)

The Ritz Carlton Residences, #22E (Corcoran Group)

210 Central Park South, #2C (Corcoran Group)

98 Front Street, #PH3E (Triumph Property Group Ltd)

The Alwyn Court, #5A (Corcoran Group)

Bleecker Court, #1029 (Corcoran Group)

Austin Nichols House, #B506 (Keller Williams NYC)

The Clement Clarke, #2D (Compass)

124 Thompson Street, #26 (Corcoran Group)

750 Park Avenue, #3B (Brown Harris Stevens Residential Sales LLC)

The River Arts, #3L (Serhant)

Trump Parc, #4J (Keller Williams NYC)

30 Monroe Place, #1D (Weichert Properties)

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Or call us at (212) 755-5544
Would you like to tour any of these properties?

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