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280 Washington Avenue, #TH (Corcoran Group) | https://cityrealty.com/n/I2870617 280 Washington Avenue, #TH (Corcoran Group) | https://cityrealty.com/n/I2870617
From January 27 - February 2, 2026, approximately 200 condos, co-ops, condops, and townhouses in core New York City areas experienced price reductions. These included ten sponsor listings at 200 East 59th Street, which developer Harry Macklowe conceived as a sister building to the nearby 432 Park Avenue and is distinguished in the skyline by its slender profile, floor-to-ceiling windows, and wraparound bands of balconies. However, Singapore-based firm Alpha Investment Partners bought Macklowe Properties out of 200 East 59th Street in November 2019, and listings in the building have been on and off the market at gradually lower price points, with some units now going for more than one-third off what they were initially offered for.

200 East 59th Street, #PH33/34 (Douglas Elliman Real Estate)

In this article:

Cannon Point North, 25 Sutton Place South
Cannon Point North, 25 Sutton Place South Beekman/Sutton Place
The Campanile, 450 East 52nd Street
The Campanile, 450 East 52nd Street Beekman/Sutton Place
1 Sutton Place South
1 Sutton Place South Beekman/Sutton Place
400 East 59th Street
400 East 59th Street Beekman/Sutton Place
8 East 62nd Street
8 East 62nd Street Park/Fifth Ave. to 79th St.

432 Park Avenue 432 Park Avenue
As an aside, the cuts at 200 East 59th Street took place on the same week that The Wall Street Journal announced that a full-floor spread at 432 Park Avenue once owned by Mr. Macklowe was selling for over $50 million to a buyer who owns another unit in the Billionaires' Row supertall. The transaction consists of two separate 78th-story units spanning approximately 8,300 square feet - one furnished with minimalist pieces and a custom-designed blue glass bathtub, one originally intended for Macklowe's ex-wife that remains unfinished. Mr. Macklowe also owned a 28th-story unit intended for staff; but, as the sale has not yet been recorded by the city, it is not known whether this is included in the transaction.
The New York Post notes that sale was announced about three years after 432 Park Avenue co-developer CIM Group initiated foreclosure proceedings on Macklowe's spread, claiming he was living large while defaulting on $46 million in loans. Mr. Macklowe surrendered his purchasing entities' equity in the building in June 2025, but tried to list the properties for $75 million a month later. Had this been permitted, the reported sale would have represented approximately a one-third reduction.

200 East 59th Street was the new development with the most price reductions of last week. However, multiple cuts also took place at Linden Lane in Hell's Kitchen and The Perrie in Turtle Bay.

Linden Lane, #1F (Brown Harris Stevens Development Marketing LLC)

Also of note, 8 East 62nd Street returned to the market for $57.5 million. While one of the most expensive townhouses currently on the market in New York City, the price represents a $12.5 million reduction from when it was listed in April 2025. Listing broker Adam Modlin told the New York Post that the unidentified seller was "testing the market" last year, and has since relocated their family and relisted it with "a more competitive positioning."
The limestone mansion dates back to 1903, and was recently renovated with major infrastructure overhauls, new security technology, high-end appliances, radiant heated floors in a primary bath, snow-melt heated sidewalks, a basement home gym with new sauna, steam room, and massage room, and luxurious finishes like custom Hermès-upholstered leather walls in a billiards room. The seller paid $48 million for it in 2022 and spent $16 million on the most recent renovation.

8 East 62nd Street, #TH (Modlin Group LLC)

In Brooklyn, 280 Washington Avenue also had its price reduced. The Queen Anne-style house is also known as "the Pfizer Mansion" in honor of Charles Erhart, the cofounder of pharmaceutical giant Pfizer who commissioned this row of Clinton Hill mansions in 1887. More recently, original details like plaster moldings, elaborate woodwork, leaded and stained glass windows, and fireplaces were restored to their original glory amidst a renovation that included new plumbing, new electricity, and a temperature-controlled wine cellar. It was listed for $9.38 million in October 2025, but the price reduction brings it down to $8.99 million. Public records show that the seller will take a loss, having bought it for $9.05 million in June 2021.

280 Washington Avenue, #TH (Corcoran Group)

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.



Recently reduced listings

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The Parkside, #4N (Sothebys International Realty)

The Plaza, #701 (Corcoran Group)

The St. Urban, #5S (Brown Harris Stevens Residential Sales LLC)

190 Riverside Drive, #4C (Sothebys International Realty)

35XV, #13C (Douglas Elliman Real Estate)

200 East 59th Street, #30E (Douglas Elliman Real Estate)

1035 Park Avenue, #PH (Brown Harris Stevens Residential Sales LLC)

One Sutton Place South, #11C (Brown Harris Stevens Residential Sales LLC)

1 East End Avenue, #PHC (Olshan Realty Inc)

Windsor Tower, #PH7 (Douglas Elliman Real Estate)

WFIFTY8 at Columbus Circle, #PH3 (Modlin Group LLC)

London Terrace Towers, #19D (Douglas Elliman Real Estate)

The Campanile, #12 (Brown Harris Stevens Residential Sales LLC)

194 Riverside Drive, #5E (Compass)

Cannon Point North, #6M (Douglas Elliman Real Estate)

166 Washington Avenue, #4A (Corcoran Group)

51 Fifth Avenue, #7E (Douglas Elliman Real Estate)

7 East 85th Street, #8B (Serhant)

The Perrie, #602 (Corcoran Group)

400 East 59th Street, #10F (The Agency Brokerage)

The Opera, #22D (Brown Harris Stevens Residential Sales LLC)

The Kenilworth, #3C (Brown Harris Stevens Residential Sales LLC)

Pomander Walk, #2 (Douglas Elliman Real Estate)

1 Minetta Street, #5B (Douglas Elliman Real Estate)

Would you like to tour any of these properties?
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  1. Select which properties are of interest to you:

Or call us at (212) 755-5544
Would you like to tour any of these properties?