From January 6-12, 2026, nearly 250 condos, co-ops, condops, and townhouses in core New York City areas experienced price reductions. These included the Park Avenue home of Estee Lauder chairman William Lauder. Mr. Lauder bought the 12th-floor apartment in the Rosario Candela-designed 778 Park Avenue from former Revlon owner Ronald Perelman in 2023, but did not hold onto it for long, instead listing it for $26.95 million in January 2025 as part of a larger sell-off that included an apartment on Fifth Avenue; this one sold in September 2025.
The Park Avenue apartment's latest price cut brings it down to $22.5 million. If it goes for this price, Mr. Lauder will take a loss, having paid $24 million for it.
The Park Avenue apartment's latest price cut brings it down to $22.5 million. If it goes for this price, Mr. Lauder will take a loss, having paid $24 million for it.
-16.5% | -$4,450,000
778 Park Avenue, #12
$22,500,000
Park/Fifth Ave. to 79th St. | Cooperative | 5 Bedrooms, 5.5 Baths
778 Park Avenue, #12 (Corcoran Group)
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On the new development front, last week's price cuts included seven units at Hendrix House, a new development condominium on the cusp of Gramercy and Kips Bay that, upon its summer 2024 sales launch, quickly attracted attention for its contemporary design, interiors with built-in home office space, thoughtful amenity package, and central location.
-5.0% | -$96,000
Hendrix House, #10E
$1,824,000
Gramercy Park | Condominium | 2 Bedrooms, 1 Bath | 782 ft2
Hendrix House, #10E (ONE REALTY GLOBAL CORP)
Most recently, in December 2025, Governor Hochul and then-Mayor Adams announced a timeline for SPARC Kips Bay, the new life sciences campus planned for the former site of Hunter College's Brookdale Campus. Deconstruction of the current campus is expected to begin in February 2026, and construction of the new campus is set to begin the following year. Upon completion, the $1.6 billion, 1.5 million-square-foot project will include a Health + Hospitals training facility, an ambulatory care center, a health sciences high school, a training center for forensic pathologists, life sciences labs, and new community and retail space.
SPARC Kips Bay is estimated to create as many as 15,000 new jobs in the life sciences industry and on the business and administrative sides of keeping the campus running. Hendrix House is open for immediate occupancy, over 80% sold, and situated in close proximity to SPARC Kips Bay.
Moreover, at a time when affordability is top of mind for elected officials and New Yorkers alike, several new developments became more attainable to everyday New Yorkers with last week's price reductions. A three-bedroom unit at East Harlem new development Huxley has been reduced to below $1 million. Elsewhere in Upper Manhattan, three units at Harlem condominium Smithsonian Place experienced price reductions, bringing public availabilities down to $625K for one-bedrooms, $875K for two-bedrooms, and $1.1 million for three-bedrooms. And in Brooklyn, a pair of two-bedrooms at Bushwick boutique condominium 1230 Putnam Avenue had their prices reduced.
-21.6% | -$275,001
Huxley, #809
$999,999
East Harlem | Condominium | 3 Bedrooms, 2 Baths | 972 ft2
Huxley, #809 (Serhant)
Also of note, the first hearing on Landmarks' docket on Tuesday, January 13 was an application to incorporate the landmarked Neo-Gothic church at 144 St. Felix Street into a new residential tower to measure 27 stories high and contain 240 new housing units. Supporters appreciate how it will bring new housing to the neighborhood, but not at the expense of the historic church. However, opponents object on grounds of harm to the historic district and blocked views of the landmarked Williamsburgh Savings Bank Tower. The tower has since been converted to condominium One Hanson Place, and residents of that building are not happy about how the new tower could block their views and impact their property values.
The land use committee of Brooklyn's Community Board 2 voted to disapprove the project in November 2025, and there was so much public testimony at a December Landmarks hearing that the commissioners deferred a vote until they could properly consider everything. Most recently, the January 2026 hearing detailed changes and restorations in store for the church, the design of the new tower, and its relationship with the Williamsburgh Savings Bank Tower. Landmarks was somewhat supportive of the adaptive reuse aspect of the church, but did not approve the project and invited the team to return. In the meantime, a one-bedroom apartment at One Hanson Place was cut below $1 million.
-14.1% | -$150,000
One Hanson Place, #9D
$915,000
Fort Greene | Condominium | 1 Bedroom, 1 Bath | 934 ft2
One Hanson Place, #9D (Find Properties)
A selection of notable listings, as well as a full list of last week's price cuts, may be seen below. All quoted figures reflect cumulative price cuts as opposed to the most recent reductions.
Recently Reduced Listings
-40.4% | -$10,100,000
The Sohmer Piano Building, #PH
$14,900,000
Flatiron/Union Square | Condominium | 5 Bedrooms, 4.5 Baths | 5,777 ft2
The Sohmer Piano Building, #PH (Sothebys International Realty)
-6.7% | -$1,000,000
HL23, #PH
$14,000,000
Chelsea | Condominium | 4 Bedrooms, 4.5 Baths | 3,554 ft2
HL23, #PH (Sothebys International Realty)
-25.9% | -$3,500,000
Spring + Thompson, #4
$10,000,000
SoHo | Condominium | 4 Bedrooms, 4.5 Baths | 3,483 ft2
Spring + Thompson, #4 (Corcoran Sunshine Marketing Group)
-20.4% | -$2,550,000
Laureate, #PH2B
$9,950,000
Broadway Corridor | Condominium | 4 Bedrooms, 3.5 Baths | 3,017 ft2
Laureate, #PH2B (Ostrov Realty Group Limited)
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-25.4% | -$3,050,000
860 Fifth Avenue, #PHH
$8,950,000
Park/Fifth Ave. to 79th St. | Cooperative | 4 Bedrooms, 4.5 Baths | 3,289 ft2
860 Fifth Avenue, #PHH (Douglas Elliman Real Estate)
-7.1% | -$500,000
The Seville, #5BC
$6,495,000
Lenox Hill | Condominium | 5 Bedrooms, 4.5 Baths | 4,100 ft2
The Seville, #5BC (Compass)
-9.4% | -$600,000
215 Chrystie Street, #29W
$5,750,000
Lower East Side | Condominium | 2 Bedrooms, 2.5 Baths | 1,977 ft2
215 Chrystie Street, #29W (Compass)
-4.8% | -$250,000
56 Leonard Street, #24BE
$5,000,000
Tribeca | Condominium | 2 Bedrooms, 2.5 Baths | 1,992 ft2
56 Leonard Street, #24BE (Compass)
-3.0% | -$151,000
Polhemus Residences, #PH1
$4,799,000
Cobble Hill | Condominium | 3 Bedrooms, 3.5 Baths | 2,281 ft2
Polhemus Residences, #PH1 (Serhant)
-5.5% | -$275,000
53 East 66th Street, #2A
$4,675,000
Park/Fifth Ave. to 79th St. | Cooperative | 4 Bedrooms, 3 Baths
53 East 66th Street, #2A (Brown Harris Stevens Residential Sales LLC)
70 Grand Street, #5 (Nest Seekers LLC)
The Franklyn, #5 (Berkshire Hathaway HomeServices New York Properties)
-15.8% | -$655,000
129 East 69th Street, #2/3A
$3,495,000
Park/Fifth Ave. to 79th St. | Cooperative | 3 Bedrooms, 2.5 Baths
129 East 69th Street, #2/3A (Brown Harris Stevens Residential Sales LLC)
-7.7% | -$250,001
Avant, #PH4
$2,999,999
Chelsea | Condominium | 2 Bedrooms, 2 Baths | 1,508 ft2
Avant, #PH4 (Compass)
-9.8% | -$295,000
Louie XVII, #5
$2,700,000
Flatiron/Union Square | Condominium | 3 Bedrooms, 2 Baths | 1,427 ft2
Louie XVII, #5 (Nest Seekers LLC)
-27.1% | -$1,000,000
The Laurel, #3CD
$2,695,000
Lenox Hill | Condominium | 3 Bedrooms, 4 Baths | 2,196 ft2
The Laurel, #3CD (Compass)
-12.5% | -$355,000
49 East 96th Street, #4D
$2,495,000
Carnegie Hill | Cooperative | 3 Bedrooms, 3 Baths
49 East 96th Street, #4D (Compass)
-10.9% | -$305,000
2 Grove Street, #6AB
$2,495,000
West Village | Cooperative | 2 Bedrooms, 2 Baths
2 Grove Street, #6AB (Compass)
-4.3% | -$100,000
The Bryant, #16B
$2,195,000
Midtown West | Condominium | 1 Bedroom, 1 Bath | 1,088 ft2
The Bryant, #16B (Compass)
-9.1% | -$200,000
The Bel Canto, #21A
$1,990,000
Lincoln Center | Condominium | 3 Bedrooms, 2 Baths | 1,200 ft2
The Bel Canto, #21A (Corcoran Group)
-12% | -$225,000
163 East 81st Street, #2B
$1,650,000
Carnegie Hill | Cooperative | 3 Bedrooms, 3 Baths
163 East 81st Street, #2B (Compass)
-6.3% | -$100,000
3 Hanover Square, #18HJ
$1,495,000
Financial District | Cooperative | 2 Bedrooms, 2 Baths
3 Hanover Square, #18HJ (Compass)
-8.2% | -$134,000
The Edge North Tower, #7K
$1,495,000
Williamsburg | Condominium | 1 Bedroom, 1.5 Baths | 1,085 ft2
The Edge North Tower, #7K (Serhant)
-10.4% | -$145,000
The Corinthian, #7Q
$1,250,000
Murray Hill | Condominium | 1 Bedroom, 2 Baths | 958 ft2
The Corinthian, #7Q (Sothebys International Realty)
-16.3% | -$240,000
The Aristocrat, #11/12A
$1,235,000
Midtown West | Cooperative | 2 Bedrooms, 2.5 Baths | 1,650 ft2
The Aristocrat, #11/12A (Douglas Elliman Real Estate)
-17.2% | -$250,000
Fifth Avenue Tower, #27/28B
$1,200,000
Murray Hill | Condominium | 1 Bedroom, 2 Baths | 948 ft2
Fifth Avenue Tower, #27/28B (Corcoran Group)
-9.8% | -$125,000
100 Eleventh Avenue, #3C
$1,150,000
Chelsea | Condominium | Studio, 1 Bath | 610 ft2
100 Eleventh Avenue, #3C (Douglas Elliman Real Estate)
-11.6% | -$150,000
Clinton West, #201
$1,145,000
Midtown West | Condominium | 2 Bedrooms, 2 Baths | 1,130 ft2
Clinton West, #201 (Douglas Elliman Real Estate)
-21.5% | -$301,000
Turtle Bay Towers, #PHG
$1,099,000
Turtle Bay/United Nations | Condop | 2 Bedrooms, 2 Baths
Turtle Bay Towers, #PHG (Compass)
-18.3% | -$201,000
One Morningside Park, #17B
$899,000
Harlem | Condominium | 1 Bedroom, 1 Bath
One Morningside Park, #17B (Corcoran Group)
-9.6% | -$96,000
310 West 56th Street, #12F
$899,000
Midtown West | Cooperative | Studio, 1 Bath | 550 ft2
310 West 56th Street, #12F (Corcoran Group)
-11.9% | -$86,000
Smithsonian Place, #403
$639,000
Harlem | Condominium | 1 Bedroom, 1 Bath | 587 ft2
Smithsonian Place, #403 (Douglas Elliman Real Estate)
Citylights, #PH4D (Douglas Elliman Real Estate)
Stirling Towers, #4L (Corcoran Group)
-11.8% | -$64,900
The Lombardy, #708
$485,000
Midtown East | Cooperative | 1 Bedroom, 1.5 Baths
The Lombardy, #708 (Corcoran Group)
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?
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