111 West 57th Street (Corcoran Group)
Less than three full months into 2024, Manhattan's condo market has shown some signs of softening. It is hard to cite any one factor, but rising interest rates cannot be overlooked, nor can the skittishness present every presidential election year.
At a time like this, some developers have introduced discounts and other incentives to attract buyers. One example may be found at 505 W 43, which took shape just before Hell's Kitchen's recent renaissance and commenced closings shortly before the pandemic. The building has sought to sweeten the deal with home office consultations at the height of lockdown and common charge credits. Most recently, six sponsor units had their prices reduced.
At a time like this, some developers have introduced discounts and other incentives to attract buyers. One example may be found at 505 W 43, which took shape just before Hell's Kitchen's recent renaissance and commenced closings shortly before the pandemic. The building has sought to sweeten the deal with home office consultations at the height of lockdown and common charge credits. Most recently, six sponsor units had their prices reduced.
Several blocks north, as 111 West 57th Street shows, even the uber-luxury market is not immune. The building has two distinct components – Landmark Residences in the restored Steinway Hall; full-floor Tower Residences in the skinniest tower in the city – but that may not be enough to stand out in an extremely crowded Billionaires' Row market. Nine sponsor listings in both the Landmark and Tower components recently had their prices reduced.
In this article:
The listings at 505 W 43 and 111 West 57th Street were among the approximately 240 sales listings that experienced price reductions from March 5-12, 2024. A selection of notable listings may be seen below. Please be advised that all quoted figures reflect cumulative price cuts as opposed to the most recent reductions.
505 W 43, #8A (VHT Studios for Corcoran Group)
From the Listing: Apartment 8A is a 1,647-square-foot three-bedroom, two-bathroom with powder room with floor-to-ceiling windows and stunning views to the north and east of Midtown Manhattan. Upon entering you are greeted with lovely light from the large floor-to-ceiling windows of the corner, two exposure living and dining areas. This gracious residence features ample storage, five-inch light oak flooring throughout, and an open kitchen with white lacquer cabinetry, white quartz countertops and Bosch oven, refrigerator and dishwasher. Now offering two-year common charge credit on two- and three-bedrooms - contracts need to be signed by April 30, 2024. See floor plan and full details here.
Greenwich Club, #1110 (Douglas Elliman)
From the Listing: Enjoy your own oasis in downtown Manhattan in this one-of-a-kind chic, designer home with studio-sized terrace including an installed water system. This one-bedroom unit was redesigned to have a mini loft-like living space with queen bed-sized sleep area and a build-out of four custom closets. The gourmet kitchen offers Mont Blanc composite countertops and top-of-the-line appliances. A storage unit is included with the sale. See floor plan and full details here.
111 West 57th Street, #56 (Corcoran Group)
From the Listing: This full-floor 4,183-square-foot Tower Residence with three bedrooms and three and a half bathrooms is designed for elegant living on a grand scale. Direct elevator entry leads to the formal entry gallery finished with white macauba stone floors and a dramatic north to south viewing gallery with unobstructed Central Park views to the north and sweeping skyline views to the south. The expansive great room is highlighted by intricately patterned floors in custom smoke-gray solid oak, up to 14-foot ceilings and floor-to-ceiling windows through which to enjoy the unobstructed views of Central Park. See floor plan and full details here.
521 Park Avenue, #2A (Brown Harris Stevens)
From the Listing: This one-of-a-kind trophy home is being offered for sale for the first time in nearly 30 years! The grand and gracious layout boasts a formal entry gallery that leads to a wood-paneled library and formal living room (both overlooking Park Avenue), a formal dining room with a built-in china closet, and a private primary suite with an enormous and simply stunning Art Deco bathroom. The large windowed eat-in kitchen has a separate pantry closet and a powder room. Meticulously maintained by its current owner, this sophisticated residence is in excellent condition and exudes an Old World elegance from a bygone era. See floor plan and full details here.
Element, #25E (Douglas Elliman)
From the Listing: High-floor, sun-flooded home features a spacious open living room/dining room and kitchen with floor-to-ceiling windows with east and northern exposures. The open chef’s kitchen has a Caesarstone countertop with high-end appliances, including a breakfast bar, abundant cabinet, and storage space. The desirable split bedroom layout provides the primary bedroom along the northern exposure with a terrace. See floor plan and full details here.
910 Fifth Avenue, #7A (Fox Residential Group)
From the Listing: With an impressive thirty-foot expanse of huge windows overlooking Central Park and Fifth Avenue, this sophisticated two-bedroom apartment offers breathtaking views, streaming sunlight and a gracious layout that is ideal for entertaining and comfortable living. The generous twenty-foot gallery seamlessly leads into the elegant living room, both featuring black marble floors and white lacquered walls. The dramatic and inviting dining room, with custom-built cabinetry, comfortably accommodates large or small gatherings. See floor plan and full details here.
The Forum, #PH1C (Coldwell Banker Warburg)
From the Listing: Penthouse #1C is a dramatic duplex with south and east exposures, high ceilings, large windows, and a wood-burning fireplace. The lower level features an entrance gallery, a powder room, a living room with a fireplace, a dining room with a double height ceiling, a kitchen with stainless steel appliances and a guest bedroom and bath. The upper level consists of the primary bedroom with a walk in closet and a large en-suite bath and another bedroom and bath. Motivated seller! See floor plan and full details here.
One Sutton Place South, #2C (Sotheby's International Realty)
From the Listing: Upon entering this majestic prewar cooperative, you’ll be captivated by the grandeur of the living room, adorned with a wood-burning fireplace that invites warmth and comfort. Through its large French door windows, iconic views of the East River and the majestic 59th Street Bridge unfold, creating a picturesque backdrop that’s nothing short of awe-inspiring. Adjacent to the living room, a wood-paneled library awaits, perfectly positioned to provide an unobstructed panorama of the East River. Motivated seller will cover one year of maintenance charges. See floor plan and full details here.
168 Plymouth Street, #4D (Stephen P. Wald Real Estate Associates)
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From the Listing: This highly sought-after "D" line unit boasts spacious interiors and a convenient home office, making it the perfect place to live, work, and unwind. As you step inside, you’ll be greeted by soaring 12-foot ceilings adorned with exposed longleaf timber beams, creating a sense of grandeur and character. The open kitchen is a chef’s dream, featuring custom-designed RiFRA Italian cabinets, a large kitchen island, porcelain stone countertops with an integrated sink, and top-of-the-line Miele appliances. See full details here.
111 West 57th Street, #11A (Corcoran Group)
From the Listing: Available for immediate occupancy, Landmark Residence 11A provides an unparalleled opportunity for one who enjoys modern conveniences within grand spaces reminiscent of the pre-war era. This residence offers three bedrooms, four-and-a-half bathrooms, and a study. A spacious living room provides southern exposure and custom smoke gray oak floors in a parquet pattern, while the adjacent dining room provides eastern exposure and plenty of space for entertaining. The separate kitchen features a wet bar and is finished with Cristallo Gold quartzite countertops and backsplash. See floor plan and full details here.
250 Mercer Street, #B205 (Sotheby's International Realty)
From the Listing: Gorgeous, quintessential prewar loft boasting soaring 12’3" ceilings, wall of massive windows, original cast-iron column, hardwood floors and infinite charm. Modern renovated kitchen with stainless steel appliances, Bosch dishwasher and stainless-steel cabinetry. Beautiful, renovated bathroom with spa shower and dressing area. Large mezzanine sleeping loft offers plentiful closet space and can fit a king-size bed. See floor plan and full details here.
The Beekman, #503 (Douglas Elliman)
From the Listing: Here is one of the most sophisticated one bedrooms you will find, with a baby grand piano in the living room for enjoying and entertaining, plus beautiful cabinetry with bookshelves. The kitchen which is to the right in the entry foyer has been renovated with new appliances. The bedroom is beautifully designed with a view of Park Avenue, and there is tremendous closet space throughout. Amenities included in the monthly maintenance are a fitness center, a meeting room, shared laundry room, bicycle storage, on-site comprehensive building management with a live-in resident manager, engineering and maintenance staff, plus European-style housekeeping and window washing. All monthly utilities included as well. See floor plan and full details here.
The Paulding, #5F (Compass)
From the Listing: Welcome to the sprawling 3-bedroom F line, the largest six-room home in one of Carnegie Hill’s most sought-after co-ops. This beautifully laid-out apartment offers a generous windowed eat-in kitchen equipped with stainless steel appliances. The apartment retains its original charm with transoms, beamed ceilings, and old-world details that create a warm and inviting ambiance. See floor plan and full details here.
Tudor Tower, #419 (Corcoran Group)
From the Listing: As you enter this upgraded one-bedroom, you will be immediately greeted by views of the blooming Tudor City Park - the best backyard you can imagine. A wall of windows in both the living room and the bedroom assures the light flooding. The kitchen has stainless steel appliances, as well as a beautiful and functional island. The king/queen size bedroom also faces the garden. Additional features include upgraded bathroom, beautifully finished floors, high ceilings, and casement windows. See floor plan and full details here.
123 East 80th Street, #TH (Christie's International Real Estate Group)
From the Listing: 123 East 80th is a home of distinction made more so by some of its past residents such as the motion picture executive Neil F. Agnew, fashion designer Tommy Hilfiger, and government executive Walter Ewing Hope. Continuing through the garden level, you will find yourself in the sitting room adjacent to the home’s extra-large kitchen in which you will find the first of seven wood-burning fireplaces. The home’s family room with its grand archway entrance faces south with wonderful light from a row of windows that line nearly the entire width of the room. See floor plan and full details here.
540West, #PH8S (Compass)
From the Listing: Spanning 1,256 square feet of interior space, this split two-bedroom residence is complemented by a spacious 702-square-foot private outdoor terrace. Upon entering, you’ll be greeted by a gracious entry area that seamlessly flows into an extra-wide, open-concept living room. The penthouse boasts exquisite features, including a floating staircase that leads to a rooftop haven, perfect for al fresco dining and lounging while taking in the breathtaking views of the Times Square skyline and Hudson Yards. See floor plan and full details here.
888 Park Avenue, #MAISONETTE (Brown Harris Stevens)
From the Listing: Maisonette-1A at 888 Park Avenue offers an opportunity to create a special home on the Upper East Side. The residence of approximately 2,000 square feet consists of well-proportioned rooms, high ceilings, 10 windows providing southern and western light, and a well-designed flexible layout. A private street entrance at 63 East 78th Street in addition to an elegant main lobby entry on Park Avenue opens to a gracious wide gallery. The residential area allows for four bedrooms, a den or study area, bath and storage area. See floor plan and full details here.
Museum Tower, #47EF (Douglas Elliman)
From the Listing: Enjoy fabulous Central Park views from the 47th floor of the world-renowned Museum Tower condominium. The entry gallery leads to the living room with floor to ceiling Park views. Two separate bedroom suites each have a marble/granite bath and a large dressing area with a walk-in fitted closet. The powder room is placed with possibilities for entertainment in mind. The butler's pantry houses the washer/dryer and is adjacent to a fully equipped kitchen. The entry hallway, dining room/den, and kitchen/pantry all have black granite floors. See floor plan and full details here.
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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