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Ritz Tower and Marion Davies | Imag produced by Metro-Goldwyn-Mayer and supplied to CINELANDIA magazine - ebay, Public Domain, https://commons.wikimedia.org/w/index.php?curid=8724663 Ritz Tower and Marion Davies | Imag produced by Metro-Goldwyn-Mayer and supplied to CINELANDIA magazine - ebay, Public Domain, https://commons.wikimedia.org/w/index.php?curid=8724663
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.

In this article:

Ritz Tower, 465 Park Avenue
Ritz Tower, 465 Park Avenue Midtown East
The Whitney, 311 East 38th Street
The Whitney, 311 East 38th Street Murray Hill
40 East 80th Street
40 East 80th Street Carnegie Hill
The Chatham Court, 75 Central Park West
The Chatham Court, 75 Central Park West Central Park West
53 West 85th Street
53 West 85th Street Central Park West

"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.

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.

The Greenpoint, #30K (Sothebys International Realty)

Greenpoint Wat Greenpoint waterfront from the India Street pier serving New York Ferry. The Greenpoint and The Huron (left-side) had units that experienced price drops in recent weeks (Spring 2025)
Potential NYC Ferry route changes (l-r) Current NYC Ferry routes; proposed changes (NYC Economic Development Corporation)
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.



53 West 85th Street, #TH (Compass)

The Chelsea Mercantile, #PHA (CORE Group Marketing LLC)
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The Chatham Court, #10D (Sothebys International Realty)

15 Verona Place, #TH (Compass)

Wedgwood House, #16G (Levy Carol E)

One Museum Mile, #11A (Corcoran Group)

Madison Green, #19D (Newell & Associates Ltd)

331 East 8th Street, #2 (Compass)

Mason LIC, #PHD (Serhant)

The Osborne, #4AA (A & I Broadway Realty Inc)

1st & First, #4S (Brown Harris Stevens Residential Sales LLC)

432 West 52nd Street, #1A (Nest Seekers LLC)

The Cambridge House, #17E (Sothebys International Realty)

Austin Nichols House, #A617 (Compass)

Kalahari Harlem, #B302 (Compass)

1048 Flushing Avenue, #3R (Corcoran Group)

The Glass Farmhouse, #6D (Eastpointe Residential Inc)

40 East 80th Street, #3A (Brown Harris Stevens Residential Sales LLC)

Hudson View Gardens, #H32 (Compass)

Towers on the Park III, #2L (Compass)

The Whitney, #7B (Douglas Elliman Real Estate)

Park Terrace Gardens, #B75 (Compass)

The Watsessing, #4D (Level Group Inc)

Lincoln Towers, #26F (Brown Harris Stevens Residential Sales LLC)

406 West 46th Street, #3B (Sothebys International Realty)

Gramercy East, #12H (The Agency Brokerage)

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Would you like to tour any of these properties?