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Future New York

Price Cuts: Steve Wynn relists Ritz Carlton penthouse $20M below initial ask; Final availabilities at The Elisa marked down

Residences at the Ritz-Carlton, #30/31 (Sotheby's International Realty) Residences at the Ritz-Carlton, #30/31 (Sotheby's International Realty)
From June 30 - July 6, 2026, only 175 condos, co-ops, condops, and townhouses in core New York City areas experienced price reductions. As this week included the Independence Day holiday on Saturday, July 4, observed by many businesses on the Friday, it was one of the year's quieter weeks for repriced listings to date. However, some notable reductions nevertheless took place during this time.
These included a one-of-a-kind availability at The Hampshire House, a cooperative on Central Park South that has attracted the likes of Frank Sinatra, Ava Gardner, Luciano Pavarotti, Frida Kahlo, and Rupert Murdoch. Behind its iconic pitched copper roof is Penthouse #3704, which is being offered with pre-approved plans by SPAN Architecture to transform the space into a magnificent bespoke residence with approximately 9,000 square feet of interior scope, 1,200 square feet of private outdoor space, and walls of glass to fill the space with natural light and Central Park views.

In this article:

Stewart Hall, 10 Mitchell Place
Stewart Hall, 10 Mitchell Place Beekman/Sutton Place
14 Sutton Place South
14 Sutton Place South Beekman/Sutton Place
The Verona, 32 East 64th Street
The Verona, 32 East 64th Street Park/Fifth Ave. to 79th St.
159 East 61st Street
159 East 61st Street Lenox Hill
314 East 50th Street
314 East 50th Street Midtown East

"Located atop one of Manhattan’s most iconic residential buildings with lifetime unobstructed views over Central Park, this penthouse represents the kind of globally coveted, one-of-one asset that attracts ultra-high-net-worth buyers worldwide" - Chad Roffers, CEO & Co-Founder, Concierge Auctions

The penthouse was previously on the market for $18.75 million, but is currently being sold at auction via Concierge Auctions, the firm that sold a penthouse at Tribeca condominium 100 Franklin Street in 42 days earlier this spring. Bidding is underway, running through Tuesday, July 14 at 5:00 p.m., and the current high bid is $6 million.

The Hampshire House, #PH3704 (Nest Seekers LLC)

The Hampshire House is located less than one block from The Residences at the Ritz-Carlton at 50 Central Park South. Originally designed by Emery Roth as the St. Moritz Hotel in 1930, it is now a Ritz Carlton hotel with a small collection of luxury condominiums on the top floors. Owners in recent years have included Oracle co-founder Larry Ellison, film producer Sidney Kimmel, energy executive Roger Sant, and casino magnate Steve Wynn, whose duplex penthouse's living room was originally the St. Moritz Hotel's ballroom. Additional features of Mr. Wynn's home include a formal dining room with arched windows on three sides, a massive primary suite, a home gym with massage/treatment room, two private terraces, and stunning views of Central Park.
The New York Post observes that the penthouse's price has "jumped around like balls on a roulette wheel." Mr. Wynn initially listed it for $90 million in December 2022. From there, it spent 2023 on and off the market, dropping to $65 million before he withdrew the listing in November 2023. Most recently, it has returned to the market for $70 million, the same price Mr. Wynn paid for it in June 2012.

Residences at the Ritz Carlton, #30/31 (Sothebys International Realty)

A number of price cuts also took place at new development condos in Manhattan and Brooklyn. At the nexus of Chelsea, the West Village, and the Meatpacking District, The Elisa is nearly sold out, and the sponsor cut prices on the final two availabilities. Multiple cuts also took place at 118 Madison Street in Clinton Hill and Calvert House in Prospect Lefferts Gardens.

The Elisa, #PH (Nest Seekers LLC)

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 represent cumulative price cuts as compared to the most recent reductions.



Recently Reduced Listings


432 Park Avenue, #66B (Douglas Elliman Real Estate)
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159 East 61st Street, #TH (Corcoran Group)

22 Gramercy Park South, #PH (Corcoran Group)

The Plaza, #1707 (Corcoran Group)

112 Prince Street, #3 (Douglas Elliman Real Estate)

1 Lexington Avenue, #5C (Compass)

1158 Fifth Avenue, #8A (Brown Harris Stevens Residential Sales LLC)

75 Wall Street, #PHL2 (Serhant)

The Verona, #2E (Brown Harris Stevens Residential Sales LLC)

290 West End Avenue, #14C (Douglas Elliman Real Estate)

Olympic Tower, #45G (Douglas Elliman Real Estate)

One Jackson Square, #6 (Compass)

Charlton House, #9E (Compass)

The New Theatre Building, #10B (Corcoran Group)

Eagle Warehouse & Storage Company, #TWE (Serhant)

One Museum Mile, #12C (Compass)

The Schuyler Arms, #5CS (Compass)

200 West 78th Street, #2D (Douglas Elliman Real Estate)

314 East 50th Street, #4E (Keller Williams NYC)

The Marais, #8A (Compass)

The Strand, #21-B (Fischer Group Realty LLC)

14 Sutton Place South, #8G (Douglas Elliman Real Estate)

The Opera, #22D (Brown Harris Stevens Residential Sales LLC)

Stewart Hall, #9F (Compass)

344 West 11th Street, #3EF (Corcoran Group)

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Would you like to tour any of these properties?

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