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According to CityRealty data, the median price of a sponsor listing in a new development New York City condominium is a whopping $3,195,000, or $2,210 per square foot. Unsurprisingly, the Upper East Side's Gold Coast is the most expensive neighborhood to buy a condo in (at an average price per square foot of $5,136), largely in part that condo buildings are rare and new developments are few and far between in the staunchly protected historic area.
Indeed, new development condo listings in any part of New York are priced at a premium, 38% higher than their non-new development counterparts on average. Units in these new buildings typically feature state-of-the-art appliances and finishes, lofty ceiling heights and access to an expansive amenities package.

"Many sponsors are not cutting prices on new development units and are holding their prices a little firmer. Homes under $1.5 million seem to be moving as well as the high-end market above $3 million." - Jennifer Alese, Associate Broker and Director of New Development, SERHANT

According to public listings, there are 724 new development sponsor units available in Manhattan. However, this number is substantially less than the actual number of unsold sponsor units since developers typically unload their units in phases. Sources have pegged the number of unsold new development inventory to upwards of 7,500, a figure that includes "shadow inventory" and that Bloomberg suggests could take more than six years to clear.

With so many apartments to sell, many sponsors have adjusted their prices since their first approved offering plan. Below, see a selection of some of the more visible price reductions in new development condominiums in Manhattan and Brooklyn.

From the Listing: RE-PRICED TO SELL TODAY! This is the moment!

Residence 15D is a generously-sized 1,371 square foot two bedroom, two-and-a-half bathroom home featuring soaring 10'8' ceiling heights, brilliant light through southern and western exposures and stunning open city views, immediately viewable upon entry. Anticipated occupancy 2021
See floor plan and full details here.
Rendering of 77 Greenwich Street (Binyan Studios)

522-West-29th-Street-01 All images of Soori High Line via Compass
From the Listing: Penthouse residence is meticulously designed with the distinction of a privately commissioned home, offering generous proportions and abundant light throughout. Upon arrival through an Augsburg oak paneled private elevator landing, you are welcomed into a grand foyer and living room with expansive floor-to-ceiling windows that offer sun-filled exposures, Augsburg oak paneled walls, and an elegant gas fireplace with floating Nero Marquina marble slab hearth. It is further enhanced by 1,036 square feet of private terraces with southern and northern exposures, including two terraces and a rooftop terrace with its own private pool. See floor plan and full details here.

100-Franklin-Street-01 All images of 100 Franklin Street via Douglas Elliman
From the Listing: Duplex penthouse residence features direct elevator access into the Great Room, which boasts oversized, picture windows facing east and south over Tribeca and allows for beautiful, natural light to flow throughout. The living area and dining room lead directly to the custom-designed, open eat-in kitchen featuring Carrara marble surfaces, state-of-the-art Sub-Zero and Wolf appliances and direct access to a balcony. An open concrete stairway leads up to the expansive private roof terrace perfect for outdoor living and dining with stunning Lower Manhattan views in every direction. See floor plan and full details here.

277-Fifth-Avenue-01 All images of 277 Fifth Avenue via The Corcoran Group
From the Listing: Designed by internationally acclaimed architect Rafael Vinoly with luxuriously appointed interiors by Jeffrey Beers International, Residence 34B is a 1,279-square-foot corner two bedroom with south and east exposures showcasing panoramic downtown views including the Hudson River, One World Trade, and beyond. Interiors are graced with ceiling heights reaching over ten feet, in addition to a selection of warm woods and elegant natural stones. The open kitchen is a palette of pale-oak cabinets with upper cabinets provided in metal trimmed white back-painted glass with Calacatta Saccheli polished marble slab center islands, counter tops, and back splash which gives the kitchens a luminous glow. The open windowed kitchen is fully customized with a suite of stainless-steel finish Miele appliances. See floor plan and full details here.

200-East-59th-Street-01 All images of 200 East 59th Street via Douglas Elliman
From the Listing: A corner unit features exposures to the north and east, including the Queensboro Bridge, and a private terrace off the open living/dining room. Unique column-free interiors boast 10+' finished ceilings and open-plan kitchen with custom Italian white glass and aluminum cabinetry by Aran Cuchine, book matched honed Calacatta marble slab countertops and full-height backsplashes, and Miele appliances. The primary bath was designed with Siberian white polished marble walls and honed marble floors with radiant heating. See floor plan and full details here.

35-Hudson-Yards-01 All images of 35 Hudson Yards via The Corcoran Group
From the Listing: This expertly planned two bedroom residence boasts 10’10” ceilings, lavish satin finish wide plank French oak floors, and stunning views of the Manhattan skyline. The windowed eat-in kitchen has been outfitted with luxurious Smallbone of Devizes cabinetry with opal white marble counters and backsplash. Full suite of Gaggenau appliances, inclusive of a wine fridge and coffee maker, truly make this kitchen extraordinary. The primary bedroom boasts two large walk-in closets and a luxurious en suite bath wrapped in stunning iceberg quartzite, complete with stunning double vanity with Kinon panels, and full depth soaking tub. No detail was overlooked in this truly exquisite home. See floor plan and full details here.
Dave Burk

1399-Park-Avenue-01 All images of 1399 Park via The Corcoran Group
From the Listing: Luxuriously designed, full-floor home on Park Avenue boasts 10' ceilings, floor-to-ceiling windows and 5 1/2" wide plank white oak flooring throughout. The sprawling living/dining space is perfect for entertaining and offers incredible views of Central Park. Luxuriously custom designed by Whitehall Interiors, the large open plan kitchen with abundant counter space has a pantry for extra storage and a peninsula perfect for entertaining. The north and east-facing corner primary suite is complete with a walk-in closet and an en-suite bath featuring honed vanilla marble tile walls, eagle grey limestone flooring and a brushed pewter pedestal vanity, finished with vintage brass fixtures by Watermark and a deep soaking tub by Zuma. A generous laundry room with a Bosch washer / dryer complete the space. See floor plan and full details here.
Hill West Architects

1010-Park-Avenue-01 All images of 1010 Park Avenue via The Corcoran Group
From the Listing: This remarkable penthouse duplex residence boasts 6,745 square feet on two full floors with four bedrooms, a library/fifth bedroom, 5.5 baths, a terrace overlooking Park Avenue, exquisitely detailed powder room, expansive formal dining room, living room, and eat-in gourmet kitchen with family room. This beautifully appointed residence presents gracious and impressive entertaining rooms with ceiling heights up to 12’4. All bedrooms feature large closets and en suite baths, and the primary suite boasts three enormous walk-in closets with two exquisite baths and an oversized dressing room. See floor plan and full details here.

1289-Lexington-Avenue-01 All images of The Hayworth via The Corcoran Group
From the Listing: This spacious Upper East Side home features a private 84-square-foot balcony located directly off the living room. This west facing residence has 10’ ceilings and oversized canted bay windows. The foyer with walk-in entry closet and powder room leads into a living/dining room with an open kitchen designed for entertaining. The custom designed kitchen features Gaggenau appliances, Calacatta Calvani marble kitchen island with custom walnut cabinetry, and Glassos marble backsplash and countertop. The primary bedroom suite includes two large walk-in closets and features a five fixture bathroom with honed Arabescato Oro marble flooring and Thassos marble borders and walls. See floor plan and full details here.

515-West-29th-Street-01 All images of 515 High Line via The Corcoran Group
From the Listing: Graciously proportioned full-floor home boasts double-paned floor-to-ceiling windows, triple exposures, private keyed elevator access, European wide plank light oak Grato floors, Belgian Delta LED recessed lighting, video intercom communication system, Lutron Homeworks QS Smart Home System for controlling temperature, lighting and window shades, and motorized Lutron solar shades. Two years free common charges for a limited time. See floor plan and full details here.
SCDA Architects

80-East-10th-Street-01 All images of Eighty East Tenth via Douglas Elliman
From the Listing: Positioned on the top two floors, this five-bedroom, five-and-a-half-bathroom full-floor residence offers timeless design with a contemporary edge. The loft-like Great Room boasts triple exposures, 10' ceilings, fine custom millwork, 8 inch wide-plank oak hardwood flooring throughout, a stunning linear gas fireplace wrapped in Nero Marquina and Statuario marble, and floor-to-ceiling windows. Entertain friends and family in the beautiful custom designed open chef's kitchen complete with top-of-the-line appliances including a Calacatta marble island with waterfall detail, countertop and backsplash, custom Dada by Molteni Group cabinetry in lacquer and oak finish, Miele appliances and high-efficiency LED recessed lighting. See floor plan and full details here.

Discounted New Development Condos Under $1.8M
10-Nevins-Street-01 All images of The Brooklyn Grove via Halstead
From the Listing: With interiors designed by ODA New York, The Brooklyn Grove features a subtle mingling of organic materials and lush textures. This east-facing open studio includes a linear kitchen where custom rift oak cabinetry strikes a distinct contrast against the concrete-hued Caesarstone countertop, Taj Mahal stone backsplash, and antique brass hardware. An elegant bath and in-unit washer/dryer complete the picture. See floor plan and full details here.

From the Listing: A light-filled residential oasis, located at 500 West 45th Street, surrounded by the best of Manhattan's New West Side! Located in the heart of Hell's Kitchen between Hudson River Park and Midtown Manhattan, Bloom on Forty Fifth places residents within easy reach of the West Side's most exciting lifestyle destinations. With intelligently designed residences and a thoughtfully curated collection of amenities, this full-service residential condominium creates the ideal atmosphere for people with active social and professional lives. See floor plan and full details here.
500-West-45th-Street-01 Bloom on Forty Fifth via Compass

229-9th-Street-01 All images of LUNA via Halstead
From the Listing: Courtyard facing studio home offers a lovely foyer entry, expansive kitchen and open layout. Interiors are infused with natural light while framing artful views from custom-built, arched windows whose size and shape vary. The kitchen features custom cabinetry imported from Italy along with Italian Carrara marble countertops and backsplashes, and professional-grade Miele appliances. See floor plan and full details here.

734-5th-Avenue-01 All images of 734 5th Avenue via Douglas Elliman
From the Listing: Located in an elegant new boutique condominium, this one-bedroom is highlighted by a modern open concept with strong proportions and a flawless designer kitchen. Finishes include custom wood carpentry and Artic White Quartz countertops, while Ceramiche Supergres marble tile backsplashes impart a sleek contemporary effect. Appliances include refrigerators and gas ranges by KitchenAid along with Bosch dishwashers; fixtures are by Kohler. The bathroom is bright, intimate, and beautifully finished with custom millwork and vanity tops. Italian wall tiles are complemented by Kohler fixtures. See floor plan and full details here.

10-Lenox-Avenue-01 All images of 10 Lenox Avenue via Halstead
From the Listing: Apartment 4E is a 1,233-square-foot home featuring a gracious entry foyer leading to a secluded, east-facing bedroom suite, and a bright, west-facing living area as well as the second bedroom and bath. Features include gracious floor plans, ceiling heights up to 9'-6", white oak flooring in plank and herringbone patterns, casement-style windows with expansive neighborhood views, multi-zoned heating and cooling, pre-wiring for TVs and cable, a Bosch washer/dryer, and custom closet system in the primary suite. See floor plan and full details here.

695-First-Avenue-01 All images of One United Nations Park via The Corcoran Group
From the Listing: Residence 28L is a one-bedroom, one-bath residence overlooking the East River. Ceilings over nine feet with floor-to-ceiling windows allow for maximum openness and natural light. The open kitchen boasts white Calacatta Lincoln marble counters, Dornbracht fixtures and Gaggenau appliances clad in custom-crafted Italian white lacquer. It comes equipped with a built-in Crestron ‘smart home’ system that regulates temperature, lighting and the motorized window shades, and can be controlled through any iOS or Android device. See floor plan and full details here.

650-Metropolitan-Avenue-01 All images of 650 Metropolitan Avenue via Douglas Elliman
From the Listing: Meticulously laid out two-bedroom comes replete with a wall of windows and top-of-the-line finishes and craftsmanship! Interiors feature white oak wood flooring, mosaic black floor tile in bathrooms, Porcelanosa fixtures throughout; Bosch Appliances, Haier vented microwave, Dolomite Stile Tiles in bathroom walls, and washer/dryer hookup. Soundproofed windows from Lumen fill the home with natural light, and Daikin central air keeps it comfortable. See floor plan and full details here.

77-Clarkson-Avenue-01 All images of The Benny via Real New York Properties
From the Listing: Be the first to live in this beautiful east-facing one-bedroom home! This residence is outfitted in modern, natural finishes: white oak hardwood floors run throughout, while matte white cabinetry and polished white quartz kitchen countertops create a light, airy feel. In the bathroom, white subway tiles and Moen fixtures present a pristine finish. Convenient modern appliances include Beko refrigerator, Whirlpool dishwasher, and in-unit Whirlpool washer and dryer. 5% closing credit paid by sponsor. See floor plan and full details here.

98-Front-Street-01 All images of 98 Front Street via Triumph Property Group
From the Listing: Well laid out three-bedroom's Great Room and kitchen work together for seamless daily living and entertainment, while meticulously curated spaces and multiple closets throughout enhance the efficiency of daily life. Copious private outdoor space allows residents to stretch out on a different platform and unwind, and natural light pours in from oversized insulated sound-attenuated 8 feet 8 inches windows by ALUMIL. The imported Italian kitchen features blonde wood cabinetry, modern white Corian countertops and backsplashes, and top-of-the-line Bosch appliances. See floor plan and full details here.

906-Prospect-Place-01 All images of 906 Prospect Place via Compass
From the Listing: This spacious three-bedroom, two-bath unit in the Crown Heights Historic District combines modern amenities with a practical layout. The bright and airy open concept highlights a chef's kitchen, equipped with Fisher & Paykel stainless steel appliances and ample storage. The design and finishes are clean and sophisticated yet classic and timeless. Oversized windows flood every room with natural light. Gorgeous floors, ample storage, Bosch washer and dryer and mini splits in every room make this the perfect home. See floor plan and full details here.

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