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 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.
-67.0% | -$16,750,000
The Sohmer Piano Building, #PH
$8,250,000
Flatiron/Union Square | Condominium | 5 Bedrooms, 4.5 Baths | 5,777 ft2
The Sohmer Piano Building, #PH (Sothebys International Realty)
In this article:
Price trimmed on award-winning Brooklyn Heights townhouse
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.
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.
-3.3% | -$500,000
25 Grace Court, #TH
$14,500,000
Brooklyn Heights | Townhouse | 6+ Bedrooms, 4.5 Baths | 5,975 ft2
25 Grace Court, #TH (Compass)
Built-in shelving trend among price cuts
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.
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.
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.
Price-reduced listings with built-in shelving
-22.7% | -$3,800,000
The Dakota, #74
$12,950,000
Central Park West | Cooperative | 4 Bedrooms, 2.5 Baths
The Dakota, #74 (Douglas Elliman Real Estate)
-7.7% | -$1,000,000
15 Madison Square North, #16BC
$11,995,000
Flatiron/Union Square | Condominium | 4 Bedrooms, 6+ Baths | 4,880 ft2
15 Madison Square North, #16BC (Compass)
-14.4% | -$1,150,000
1111 Park Avenue, #2BH
$6,850,000
Carnegie Hill | Cooperative | 4 Bedrooms, 4.5 Baths | 3,800 ft2
1111 Park Avenue, #2BH (Corcoran Group)
-5.2% | -$300,000
85 Calyer Street, #TH
$5,495,000
Greenpoint | Townhouse | 5 Bedrooms, 5.5 Baths | 4,420 ft2
85 Calyer Street, #TH (Daniel Gale of Brooklyn LLC)
-8.7% | -$275,000
Cannon Point South, #PHF/G
$2,875,000
Beekman/Sutton Place | Cooperative | 5 Bedrooms, 5.5 Baths
Cannon Point South, #PHF/G (Olshan Realty Inc)
-10.7% | -$300,000
Chelsea Modern, #2A
$2,495,000
Chelsea | Condominium | 2 Bedrooms, 2.5 Baths | 1,441 ft2
Chelsea Modern, #2A (Douglas Elliman Real Estate)
-11.2% | -$251,000
645 West End Avenue, #10C
$1,999,000
Riverside Dr./West End Ave. | Cooperative | 3 Bedrooms, 3 Baths
645 West End Avenue, #10C (Douglas Elliman Real Estate)
-13.1% | -$151,000
The Dorchester, #2E
$999,000
Midtown East | Cooperative | 2 Bedrooms, 2 Baths
The Dorchester, #2E (Corcoran Group)
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
-9.1% | -$90,000
Legendary Towers, #1
$900,000
Jackson Heights | Cooperative | 3 Bedrooms, 2 Baths | 1,445 ft2
Legendary Towers, #1 (Compass)
-10.6% | -$95,000
University Mews, #410
$800,000
Greenwich Village | Cooperative | 1 Bedroom, 1.5 Baths
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
-8.3% | -$455,000
55 Warren Street, #4
$4,995,000
Tribeca | Condominium | 3 Bedrooms, 3 Baths | 3,627 ft2
55 Warren Street, #4 (Leven Real Estate)
-11.1% | -$350,000
The Ritz Carlton Residences, #22E
$2,800,000
Battery Park City | Condominium | 3 Bedrooms, 3 Baths | 1,941 ft2
The Ritz Carlton Residences, #22E (Corcoran Group)
-22.3% | -$800,000
210 Central Park South, #2C
$2,795,000
Midtown West | Cooperative | 1 Bedroom, 1.5 Baths | 1,200 ft2
210 Central Park South, #2C (Corcoran Group)
-12.9% | -$355,000
98 Front Street, #PH3E
$2,395,000
DUMBO | Condominium | 3 Bedrooms, 2 Baths | 1,270 ft2
98 Front Street, #PH3E (Triumph Property Group Ltd)
-7.5% | -$150,000
The Alwyn Court, #5A
$1,850,000
Midtown West | Cooperative | 2 Bedrooms, 2 Baths | 1,700 ft2
The Alwyn Court, #5A (Corcoran Group)
-12.3% | -$245,000
Bleecker Court, #1029
$1,750,000
Greenwich Village | Cooperative | 1 Bedroom, 1 Bath | 1,100 ft2
Bleecker Court, #1029 (Corcoran Group)
-10.1% | -$175,000
Austin Nichols House, #B506
$1,550,000
Williamsburg | Condominium | 2 Bedrooms, 2 Baths | 166 ft2
Austin Nichols House, #B506 (Keller Williams NYC)
-10.7% | -$150,000
The Clement Clarke, #2D
$1,250,000
Chelsea | Condominium | 1 Bedroom, 1 Bath | 915 ft2
The Clement Clarke, #2D (Compass)
-15.1% | -$195,000
124 Thompson Street, #26
$1,100,000
SoHo | Cooperative | 1 Bedroom, 1 Bath
124 Thompson Street, #26 (Corcoran Group)
-8.9% | -$100,000
750 Park Avenue, #3B
$1,025,000
Park/Fifth Ave. to 79th St. | Cooperative | 1 Bedroom, 1 Bath
750 Park Avenue, #3B (Brown Harris Stevens Residential Sales LLC)
-10.6% | -$101,000
The River Arts, #3L
$849,000
Washington Heights | Cooperative | 2 Bedrooms, 1 Bath
The River Arts, #3L (Serhant)
Trump Parc, #4J (Keller Williams NYC)
-20.5% | -$116,000
30 Monroe Place, #1D
$450,000
Brooklyn Heights | Cooperative | Studio, 1 Bath
30 Monroe Place, #1D (Weichert Properties)
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
6sqft delivers the latest on real estate, architecture, and design, straight from New York City.