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50-Central-Park-South-1 The Residences at the Ritz Carlton via Corcoran
It is shaping up to be a hot summer in New York, but the city's real estate market can only heat up so much: Over the past week, 569 listings across the five boroughs experienced price cuts to come further in line with market realities. Even the most powerful owners and beautiful apartments are not immune: A full-floor condominium in The Residences at the Ritz Carlton, most recently owned by Crazy Rich Asians producer Sidney Kimmel, just had its price reduced by $10 million, or by 25.3%.

If this Central Park simplex's new price of $29.5 million is still out of your price range, the following apartments in Manhattan and Brooklyn have been reduced to prices under $1 million. Please note that all of the reductions are reflective of cumulative cuts, not the most recent price chops.

220-East-67th-Street-1 All images of 220 East 67th Street via Douglas Elliman
220-East-67th-Street-2 Kitchen
220-East-67th-Street-3 Bedroom
Spacious, high-floor home on the Upper East Side boasts features southern exposures, open city views, crown moldings, and hardwood floors. The kitchen has been newly renovated with custom cabinets, granite counters, and stainless steel appliances. The full-service building offers a resident superintendent's services, parking garage, bike room, laundry room, roof deck, and easy access to shopping, dining, and transportation. See floor plan and full details here.

207-East-74th-Street-1 All images of The Mayfair via Compass
207-East-74th-Street-2 Living room and kitchen
207-East-74th-Street-3 Private terrace
Perfectly proportioned penthouse in a full-service cooperative boasts high ceilings, open uptown views, generous closet space, and a large private terrace with drip-irrigation system for plants. The partially open kitchen is perfectly aligned with the living room, allowing for a fully open kitchen and Great Room. The king-sized master suite has a double-hanging closet and enough room to accommodate a home office. See floor plan and full details here.

303-West-66th-Street-1 All images of Lincoln Guild via Douglas Elliman
303-West-66th-Street-2 Kitchen
303-West-66th-Street-3 Bedroom
East-facing high-floor apartment boasts abundant natural light, open layout, and generous closet space. Full-service building offers 24-hour staff, on-site management, and two laundry facilities. Central Park, Riverside Park, Lincoln Center, and popular local restaurants, shops, and nightlife are a short walk away. See floor plan and full details here.

372-Fifth-Avenue-1 All images of 372 Fifth Avenue via Keller Williams
372-Fifth-Avenue-2 Living/sleeping area
372-Fifth-Avenue-3 Kitchen
Sumptuous studio in the former Best & Co. department store features exposed brick, fresh paint, a wood-burning fireplace, generous closet space, and a recently renovated bath. The well-proportioned kitchen is outfitted with stainless steel appliances and abundant cabinetry. A wrought-iron staircase leads to a private roof terrace with direct views of the Empire State Building. See floor plan and full details here.

444-East-75th-Street-1 All images of The Larrimore via Corcoran
444-East-75th-Street-2 Entry foyer and kitchen
444-East-75th-Street-3 Bedroom
Completely renovated, move-in ready corner co-op is filled with natural light and treetop views from southern and eastern exposures. Additional features include crown moldings, custom lighting, hardwood floors, separate kitchen, windowed bath, and three large closets. Full-service pet-friendly building amenities and staff include full-time doorman, live-in resident manager, laundry room, bike room, and storage. See floor plan and full details here.

70-Lenox-Road-1 All images of 70 Lenox Road via Douglas Elliman
70-Lenox-Road-2 Kitchen
70-Lenox-Road-3 Bath
Top-floor home in a prewar Brooklyn cooperative is filled with sunlight from northern exposures. The new kitchen is outfitted with stainless steel appliances, and the foyer is large enough to use as a home office. Prospect Park and public transportation are a short walk from the building. See floor plan and full details here.

11-Fifth-Avenue-1 All images of The Brevoort via Douglas Elliman
11-Fifth-Avenue-2 Dining area/home office
11-Fifth-Avenue-3 Kitchen
Corner alcove studio in an iconic Greenwich Village building boasts incredible flow, new flooring, custom closets, and custom silk laminated shades on the living room windows. The windowed chef's kitchen has been custom built with a pantry, ceiling-high cabinets, and top-of-the-line appliances. The building is steps from Washington Square Park, and amenities include landscaped gardens, gym, and laundry room. See floor plan and full details here.

305-West-86th-Street-1 All images of 305 West 86th Street via Halstead
305-West-86th-Street-2 Kitchen
305-West-86th-Street-3 Bedroom
From the high beamed ceilings to the herringbone wood floors, no detail was overlooked in the renovation of this prewar apartment on the Upper West Side. Enhancements include skim coated walls, custom closets in the entry foyer, updated windowed bath, and windowed kitchen with custom cabinetry and high-end appliances. The building is conveniently located near Riverside Park, shopping, dining, and transportation. See floor plan and full details here.

4601-Henry-Hudson-Parkway-West-1 All images of 4601 Henry Hudson Parkway West via Douglas Elliman
4601-Henry-Hudson-Parkway-West-2 Kitchen
4601-Henry-Hudson-Parkway-West-3 Private roof terrace
Top-floor apartment is filled with light from three exposures and multiple windows. The airy windowed kitchen is outfitted with generous counter space and pristine white cabinetry. An enormous roof terrace looks out on peaceful views of lawns and gardens. See floor plan and full details here.

303-East-57th-Street-1 All images of The Excelsior via Halstead
Expansive, centrally located apartment boasts open city views, private terrace, modern kitchen, and extremely generous closet space. The spacious master suite includes a bath and dressing room with its own private entrance. Luxury doorman building off Billionaires' Row offers circular driveway, garage, dry cleaning, concierge service, gym, spa, and saltwater pool. See floor plan and full details here.

Special Mention
50-Central-Park-South-1 All images of The Residences at the Ritz Carlton via Corcoran
50-Central-Park-South-2 Formal dining room
50-Central-Park-South-3 Master bedroom
With its panoramic skyline and Central Park views, beautifully crafted Lalique windows, artistically designed gallery, flexible space, and awe-inspiring private terrace, it's no wonder this apartment was featured in Architectural Digest. The grand living room features an antique marble fireplace and a wall of French doors leading to the terrace. The master suite occupies the entire east wing of the apartment and comes with Central Park views, a private office, a sitting room, two elegant dressing rooms, and two sumptuous baths. See floor plan and full details here.

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