From July 15-21, 2025, approximately 200 condos, co-ops, condops, and townhouses in core New York City areas experienced price reductions. These include an ornately appointed studio apartment at The Osborne, a historic co-op on what is now known as Billionaires' Row. With its soaring ceilings, Tiffany glass transoms, onyx fireplaces, and mahogany circular staircase, Residence #4AA would not be out of place on Emmy Award-winning TV show The Gilded Age. It was listed for $1.88 million in September 2023, and the most recent price reduction brings it down to $1.655 million.
Another recently reduced apartment from a bygone era was a duplex at Park Avenue's Ritz Tower commissioned by publishing mogul William Randolph Hearst for his longtime mistress, chorus girl turned film star Marion Davies. Mr. Hearst formed a film company in 1918 and asked Ms. Davies to sign a contract with it; from there, he used his extensive media holdings to promote her career, though this might not necessarily have been to her benefit. Mr. Hearst and Ms. Davies lived together for decades, but never married because Mr. Hearst's wife refused to grant him a divorce.
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"God, I'd give everything I have to marry that silly old man. Not for the money and security—he's given me more than I'll ever need...No, you know what he gives me, sugar? He gives me the feeling I'm worth something to him"—Marion Davies on William Randolph Hearst
Decades after Ms. Davies' death in 1961 (Mr. Hearst predeceased her in 1951), their former duplex with a private terrace is on the market. Features include a wood-carved ceiling from a Venetian Doge's palace, 16th-century monastery doors, eight sets of stained glass windows, and two hand-carved wooden fireplaces. It is being offered furnished, and the buyer will have access to the Ritz Tower's doorman, concierge, house-keeping, and in-home dining service. It was listed for $26 million in May 2025, and a price reduction brings it down to $22 million.
-15.4% | -$4,000,000
Ritz Tower, #19/20W
$22,000,000
Midtown East | Cooperative | 4 Bedrooms, 4 Baths
Ritz Tower, #19/20W (Douglas Elliman Real Estate)
Additionally, while waterfront apartments with river vistas seem to be as coveted as park-facing views, there were some price drops on the Williamsburg-Greenpoint waterfront last week. Two listings each at Austin Nichols House in Williamsburg and The Greenpoint in its eponymous neighborhood were among last week's reductions.
-4.4% | -$100,000
The Greenpoint, #30K
$2,150,000
Greenpoint | Condominium | 2 Bedrooms, 2 Baths | 1,123 ft2
The Greenpoint, #30K (Sothebys International Realty)
Both buildings are located in close proximity to landings for the popular NYC Ferry serving all five boroughs. Despite a fare increase to $4.50 per ride (up from $2.75 when it launched), NYC Ferry reported record ridership in 2024 with weekday ridership growing by more than 9%. There is little question that ferry service offers a scenic alternative to subways and buses, and it helps that there has been significant residential development near NYC Ferry stops in Williamsburg, Greenpoint, Hunter's Point South, and Astoria.
In July 2025, the NYC Economic Development Corp. proposed a series of route changes and improvements. These include dividing the East River line into two lines for greater efficiency; combining the Soundview and Rockaway routes to better connect Rockaway riders to Midtown and East 90th Street; and expanding the St. George route to link Brooklyn and Staten Island, not to mention create a (somewhat circuitous) connection from Midtown West to the Wall Street/Pier 11 transportation hub. The city is currently gathering rider feedback through an online survey (available through September 1). Final route changes will be announced later this year with new service coming as soon as this winter.
A selection of notable listings, along with a full chart of last week's price reductions, may be seen below. Please be advised that all quoted figures reflect cumulative price cuts as opposed to the most recent reductions.
-12.2% | -$1,525,000
53 West 85th Street, #TH
$10,975,000
Central Park West | Townhouse | 5 Bedrooms, 6+ Baths | 6,075 ft2
53 West 85th Street, #TH (Compass)
-12.7% | -$665,000
The Chelsea Mercantile, #PHA
$4,585,000
Chelsea | Condominium | 3 Bedrooms, 3 Baths | 2,185 ft2
The Chelsea Mercantile, #PHA (CORE Group Marketing LLC)
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-22.3% | -$1,005,000
The Chatham Court, #10D
$3,495,000
Central Park West | Cooperative | 3 Bedrooms, 2 Baths
The Chatham Court, #10D (Sothebys International Realty)
-10.5% | -$351,000
15 Verona Place, #TH
$2,999,000
Bedford-Stuyvesant | Townhouse | 6+ Bedrooms, 6+ Baths | 3,420 ft2
15 Verona Place, #TH (Compass)
-21.5% | -$796,000
Wedgwood House, #16G
$2,899,000
Flatiron/Union Square | Condop | 3 Bedrooms, 2 Baths
Wedgwood House, #16G (Levy Carol E)
-25.9% | -$875,000
One Museum Mile, #11A
$2,500,000
East Harlem | Condominium | 3 Bedrooms, 3.5 Baths | 1,863 ft2
One Museum Mile, #11A (Corcoran Group)
-10.4% | -$275,000
Madison Green, #19D
$2,375,000
Flatiron/Union Square | Condominium | 2 Bedrooms, 2 Baths
Madison Green, #19D (Newell & Associates Ltd)
-17.8% | -$400,000
331 East 8th Street, #2
$1,850,000
East Village | Condominium | 2 Bedrooms, 2 Baths | 1,351 ft2
331 East 8th Street, #2 (Compass)
-10.3% | -$205,000
Mason LIC, #PHD
$1,790,000
Long Island City | Condominium | 2 Bedrooms, 2 Baths | 1,340 ft2
Mason LIC, #PHD (Serhant)
-15.6% | -$305,000
The Osborne, #4AA
$1,645,000
Midtown West | Cooperative | Studio, 1 Bath | 1,000 ft2
The Osborne, #4AA (A & I Broadway Realty Inc)
-11.8% | -$201,000
1st & First, #4S
$1,499,000
East Village | Condominium | 2 Bedrooms, 1 Bath | 1,027 ft2
1st & First, #4S (Brown Harris Stevens Residential Sales LLC)
-21.1% | -$401,000
432 West 52nd Street, #1A
$1,499,000
Midtown West | Condominium | 2 Bedrooms, 1.5 Baths | 1,454 ft2
432 West 52nd Street, #1A (Nest Seekers LLC)
-7.5% | -$105,000
The Cambridge House, #17E
$1,295,000
Greenwich Village | Cooperative | 1 Bedroom, 1 Bath
The Cambridge House, #17E (Sothebys International Realty)
-12.1% | -$145,000
Austin Nichols House, #A617
$1,050,000
Williamsburg | Condominium | 1 Bedroom, 1 Bath | 680 ft2
Austin Nichols House, #A617 (Compass)
-4.4% | -$46,000
Kalahari Harlem, #B302
$999,000
Harlem | Condominium | 2 Bedrooms, 2 Baths | 1,145 ft2
Kalahari Harlem, #B302 (Compass)
-0.4% | -$4,000
1048 Flushing Avenue, #3R
$995,000
Bushwick | Condominium | 2 Bedrooms, 2 Baths | 819 ft2
1048 Flushing Avenue, #3R (Corcoran Group)
-13.5% | -$155,000
The Glass Farmhouse, #6D
$995,000
Midtown West | Condominium | Studio, 1 Bath
The Glass Farmhouse, #6D (Eastpointe Residential Inc)
-10.6% | -$101,000
40 East 80th Street, #3A
$849,000
Carnegie Hill | Cooperative | 3 Bedrooms, 3 Baths | 1,911 ft2
40 East 80th Street, #3A (Brown Harris Stevens Residential Sales LLC)
-6.1% | -$49,000
Hudson View Gardens, #H32
$750,000
Washington Heights | Cooperative | 2 Bedrooms, 1 Bath
Hudson View Gardens, #H32 (Compass)
-11.9% | -$101,000
Towers on the Park III, #2L
$749,000
Harlem | Condominium | 2 Bedrooms, 1.5 Baths | 839 ft2
Towers on the Park III, #2L (Compass)
-12.8% | -$105,000
The Whitney, #7B
$715,000
Murray Hill | Condominium | 1 Bedroom, 1 Bath | 631 ft2
The Whitney, #7B (Douglas Elliman Real Estate)
Park Terrace Gardens, #B75 (Compass)
-7.8% | -$51,000
The Watsessing, #4D
$599,000
Riverside Dr./West End Ave. | Cooperative | 1 Bedroom, 1 Bath
The Watsessing, #4D (Level Group Inc)
Lincoln Towers, #26F (Brown Harris Stevens Residential Sales LLC)
406 West 46th Street, #3B (Sothebys International Realty)
-8.9% | -$49,000
Gramercy East, #12H
$500,000
Gramercy Park | Cooperative | Studio, 1 Bath
Gramercy East, #12H (The Agency Brokerage)
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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