Wealthy New Yorkers' greatest fear is probably not a Mamdani mayoralty, but getting their views blocked by a towering new development that is somehow always out of character with the surrounding neighborhood despite architects' best efforts. This fear has some basis in reality; owners can take serious losses if their apartment has bricked-in windows or looks directly onto the wall of another building, especially if it previously enjoyed open views of a park, river, skyline, or all of the above. Some homeowners are fiercely protective of their views - witness the penthouse owners at 520 Park Avenue who sued the building's developer earlier this year after learning that the views that made the penthouse such a prize would be threatened by the forthcoming 655 Madison Avenue.
Something similar is playing out at One Hanson Place in Fort Greene. The former Williamsburgh Savings Bank Tower is a New York City Landmark and among the tallest buildings in Brooklyn, but new projects are threatening to block the views the majority of homeowners hold dear. In December 2020, several Fort Greene residents (many of whom live at One Hanson Place) sued Landmarks, claiming that the commission improperly approved a planned 23-story condo tower at 130 St. Felix Street. This lawsuit and others like it have been dismissed, but developer Gotham Organization has not applied for a new building permit for 130 St. Felix Street and missed the deadline for 421a tax benefits (h/t Brooklyn Paper).
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More recently, Brooklyn Community Board 2's Land Use Committee voted to disapprove a planned project at 144 St. Felix Street in November 2025. The project calls for restoring the landmarked Hanson Place Central United Methodist Church's Neo-Gothic facade and using it as the base of a 27-story, 240-unit tower to rise directly beside One Hanson Place. Supporters say the project will bring much-needed housing to the neighborhood, but significantly more opponents objected on grounds of harm to the historic district, concerns about traffic, and blocked views of the Williamsburgh Savings Bank Tower.
Views from One Hanson Place are threatened as well. A rendering of the project shows the new building blocking much of the historic tower. It is against this backdrop that at least one homeowner at One Hanson Place is poised to take a loss. Public records show that they paid $2.6 million for their four-bedroom apartment with open Brooklyn views in 2015, but a price reduction brings it down to under $2.3 million.
-8% | -$201,000
One Hanson Place, #16B
$2,299,000
Fort Greene | Condominium | 4 Bedrooms, 4 Baths | 1,861 ft2
One Hanson Place, #16B (Compass)
The story of 144 St. Felix Street and One Hanson Place is a familiar one to residents of Belltel Lofts in Downtown Brooklyn. ADP Architects, one of the designers of 144 St. Felix Street, is also the designer of 182 Duffield Street, a proposed 30-story tower located around the block from the Ralph Walker-designed New York Telephone headquarters turned luxury loft condominium. They seek to remove the rear facades of four landmarked rowhouses at 182-188 Duffield Street, combine the interiors to create a community space and residential lobby, and build the new tower behind the houses, blocking views of and from Belltel Lofts in the process.
Preservationists and residents strenuously objected to the project, and Landmarks declined to approve it in October 2025, finding that the proposal overwhelmed the historic buildings. But the damage may already have been done. One homeowner paid $1.17 million for their two-bedroom loft in 2020; a price cut brings it down to $1.25 million, and they may not be able to avoid taking a loss if it goes down much further. Unfortunately, such are the risks of buying in prewar buildings, the possibility that windows could get bricked in if a new building rises on an adjacent lot.
-3.8% | -$50,000
Belltel Lofts, #5O
$1,250,000
Downtown Brooklyn | Condominium | 2 Bedrooms, 2 Baths | 1,062 ft2
Belltel Lofts, #5O (Compass)
The developers of 432 Park Avenue bought surrounding air rights for the project, thus preventing threats to the panoramic views afforded by its soaring height. However, that is not to say the building is free from problems. Far from it - the bright white concrete that sets it apart in the Manhattan skyline is potentially the cause of chunks of concrete falling and cracks in the facade characteristic of older buildings (h/t The New York Times). This comes on the heels of complaints like faulty elevators, water seeping through ceilings, high charges from the building's private restaurant, and problems with the slender building's counterweight system that keeps it from swaying in the wind.
If the problems at 432 Park Avenue are not addressed, the building could become uninhabitable, dangerous to pedestrians, or both. However, residents cannot agree on how to solve the problems and fear that the problems with the building will hurt their property values. As it currently stands, the average price per square foot of condos sold in the building last year was $4,133, down from over $5,000 when sponsor units were selling between 2016 and 2019. Most recently, six listings experienced price reductions on the first week of November 2025, with public records indicating that three sellers are poised to take a loss on their apartments.
-7.5% | -$2,000,000
432 Park Avenue, #66A
$24,500,000
Midtown East | Condominium | 4 Bedrooms, 3.5 Baths | 4,019 ft2
432 Park Avenue, #66A (Corcoran Group)
These apartments were among over 300 condos, co-ops, condops, and townhouses in core New York City areas that experienced price reductions from November 4-10, 2025. The week was also marked by multiple reductions at boutique condominiums in far-flung stretches of Brooklyn. Bedford-Stuyvesant boutique condominiums 583 Putnam Avenue and 935 Lafayette Avenue offer generous square footage, incredible privacy, high-end finishes, private outdoor space, and attainable prices. But between the rise in return-to-office and their less than convenient proximity to public transportation, the prices might have been too aspirational.
-4.9% | -$45,000
583 Putnam Avenue, #3
$880,000
Bedford-Stuyvesant | Condominium | 2 Bedrooms, 1 Bath | 900 ft2
583 Putnam Avenue, #3 (Keller Williams Realty Empire)
A selection of notable listings, as well as a full chart of last week's price cuts, may be seen below. Please be advised that all quoted figures reflect cumulative price cuts as opposed to the most recent reductions.
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Recently reduced listings
-28.1% | -$7,025,000
The Sohmer Piano Building, #PH
$17,975,000
Flatiron/Union Square | Condominium | 5 Bedrooms, 4.5 Baths | 5,777 ft2
The Sohmer Piano Building, #PH (Sothebys International Realty)
-13% | -$1,750,000
Sixteen Fifth Avenue, #6
$11,750,000
Greenwich Village | Condominium | 4 Bedrooms, 4.5 Baths | 3,727 ft2
Sixteen Fifth Avenue, #6 (Corcoran Sunshine Marketing Group)
-20.3% | -$2,540,000
205 West 19th Street, #11
$9,950,000
Chelsea | Cooperative | 4 Bedrooms, 4.5 Baths | 5,400 ft2
205 West 19th Street, #11 (Serhant)
-4.3% | -$250,000
362 West Broadway, #2
$5,600,000
SoHo | Cooperative | 3 Bedrooms, 2 Baths | 2,800 ft2
362 West Broadway, #2 (Luxe Group NYC LLC)
-10.9% | -$600,000
The Park Mansion, #MAISONETTE
$4,900,000
Yorkville | Condominium | 3 Bedrooms, Unknown Baths | 3,550 ft2
The Park Mansion, #MAISONETTE (Modlin Group LLC)
-7% | -$320,000
Baccarat Hotel & Residences, #22A
$4,250,000
Midtown West | Condominium | 2 Bedrooms, 2.5 Baths | 1,728 ft2
Baccarat Hotel & Residences, #22A (Compass)
-24.8% | -$1,300,000
The Chelsea Mercantile, #PHA
$3,950,000
Chelsea | Condominium | 3 Bedrooms, 3 Baths | 2,185 ft2
The Chelsea Mercantile, #PHA (CORE Group Marketing LLC)
-12.4% | -$495,000
440 East 57th Street, #PH
$3,500,000
Beekman/Sutton Place | Cooperative | 4 Bedrooms, 3 Baths | 3,479 ft2
440 East 57th Street, #PH (Corcoran Group)
-12.5% | -$500,000
The Retreat, #2
$3,495,000
Park Slope | Condominium | 4 Bedrooms, 3 Baths | 2,900 ft2
The Retreat, #2 (Corcoran Group)
-10.6% | -$330,000
8 East 96th Street, #7C
$2,795,000
Carnegie Hill | Cooperative | 3 Bedrooms, 2 Baths | 1,800 ft2
8 East 96th Street, #7C (Compass)
-15.1% | -$475,000
136 East 64th Street, #11E
$2,675,000
Park/Fifth Ave. to 79th St. | Cooperative | 3 Bedrooms, 3 Baths
136 East 64th Street, #11E (Compass)
-19.4% | -$600,000
The Cass Gilbert, #16A
$2,495,000
Chelsea | Condominium | 3 Bedrooms, 3.5 Baths | 2,256 ft2
The Cass Gilbert, #16A (Compass)
-11.1% | -$300,000
45 West 67th Street, #22B
$2,395,000
Central Park West | Condominium | 2 Bedrooms, 2 Baths | 1,100 ft2
45 West 67th Street, #22B (Douglas Elliman Real Estate)
-6.7% | -$100,000
1235 Dean Street, #4
$1,395,000
Crown Heights | Condominium | 3 Bedrooms, 2 Baths | 1,108 ft2
1235 Dean Street, #4 (Corcoran Group)
-10.5% | -$135,000
PS90, #1L
$1,150,000
Harlem | Condominium | 2 Bedrooms, 2 Baths | 1,486 ft2
PS90, #1L (Douglas Elliman Real Estate)
-10% | -$125,000
71 Park Avenue, #PHB
$1,125,000
Murray Hill | Condominium | 1 Bedroom, 1 Bath | 700 ft2
71 Park Avenue, #PHB (Corcoran Group)
-9.1% | -$90,000
151 Manhattan Avenue, #2B
$899,000
Williamsburg | Condominium | 1 Bedroom, 1 Bath | 835 ft2
151 Manhattan Avenue, #2B (Corcoran Group)
-10.4% | -$99,000
Bridgeview Tower, #10A
$850,000
Downtown Brooklyn | Condominium | 1 Bedroom, 1.5 Baths | 733 ft2
Bridgeview Tower, #10A (Douglas Elliman Real Estate)
The Whitney, #18C (Brown Harris Stevens Residential Sales LLC)
-10.1% | -$70,000
22 Grove Street, #5C
$625,000
West Village | Cooperative | Studio, 1 Bath
22 Grove Street, #5C (Douglas Elliman Real Estate)
-22.2% | -$175,000
Rockefeller Apartments, #11D
$615,000
Midtown West | Cooperative | 1 Bedroom, 1 Bath
Rockefeller Apartments, #11D (ENGEL & VOLKERS NEW YORK CITY)
Southgate, #2D (Douglas Elliman Real Estate)
Would you like to tour any of these properties?
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Or call us at (212) 755-5544
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