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The O'Neill Building, 655 Sixth Avenue, #PHB |  https://www.cityrealty.com/nyc/chelsea/the-oneill-building-655-sixth-avenue/30363/PHB/BHOpVTBNMjSBHa The O'Neill Building, 655 Sixth Avenue, #PHB | https://www.cityrealty.com/nyc/chelsea/the-oneill-building-655-sixth-avenue/30363/PHB/BHOpVTBNMjSBHa
From May 19-25, 2026, fewer than 250 condos, co-ops, condops, and townhouses in core New York City areas experienced price reductions. This is a marked week-over-week dip in the number of price cuts, and takes place at a time when sales data shows a hot real estate market with the average Manhattan sale price up 5 percent year-over-year.
These included Penthouse #B at The Gramercy, which model/actress Cara Delevingne relisted for $9.45 million over a year and a half after initially listing it for $11 million. She will take a loss if it goes for this price, having bought it for $10.8 million from late-night host Jimmy Fallon and his wife, producer Nancy Juvonen, in May 2022, but told Elle Decor that she wasn't spending much time in New York lately.

In this article:

The Campanile, 450 East 52nd Street
The Campanile, 450 East 52nd Street Beekman/Sutton Place
The Mayfair, 207 East 74th Street
The Mayfair, 207 East 74th Street Lenox Hill
137 East 66th Street
137 East 66th Street Lenox Hill
152 East 63rd Street
152 East 63rd Street Lenox Hill
320 East 57th Street
320 East 57th Street Midtown East
The penthouse comes with a key to Gramercy Park, and Ms. Delevingne largely left custom interiors by Mr. Fallon and Ms. Juvonen untouched. These include, but are not limited to, a rustic "saloon room" with curved bar, a hidden playroom under the staircase, and colorful accents throughout.

The Gramercy at 34 Gramercy Park East | Photo by Yale Wagner for Sotheby’s International Realty The Gramercy at 34 Gramercy Park East | Photo by Yale Wagner for Sotheby’s International Realty

“The level of craftsmanship and attention to detail is extraordinary; it feels less like a home and more like a living work of art, revealing something new with every moment spent inside” - Cara Delevingne on her Gramercy Park penthouse


The Gramercy, #PHB (R New York)

655 Sixth Avenue, Chelsea penthouse The O'Neill Building, #PHB (Serhant)
Another notable price reduction took place at The O'Neill Building, which spans Sixth Avenue between West 20th and 21st Streets. The original cast-iron building was constructed by Mortimer Merritt (no relation) in 1887 as the Hugh O'Neill Dry Goods Building, which catered to well-heeled shoppers on the "Ladies Mile" and was distinguished by its gilded corner domes. The store closed shortly after Mr. O'Neill's death in 1902, and the domes were removed amidst the building's conversion to lofts and manufacturing use. But when the former department store was converted to condos in 2007, the domes were restored, finished in gold leaf, and adapted for residential use.
One of the domes is part of Penthouse B, where it connects to two private terraces and looks out on open views from the windows surrounding it. Interiors of this four-bedroom duplex penthouse feature a 53-foot Great Room with southern and eastern exposures, a kitchen with center island and breakfast room, and two bedrooms, both with terrace access, on the main living level. The primary suite occupies its own floor and features two walk-in dressing rooms, an oversized bath, and its own terrace.
Law & Order: SVU star Mariska Hargitay bought the penthouse for over $7.127 million in October 2007, but sold it for $8.15 million a year later. The current seller initially listed it for $14 million in October 2016; it has been on and off the market at various price points since then. When it most recently returned to the market for $13.5 million in March 2026, listing broker Peter Ocean of Serhant told the New York Post that the seller's children have moved out and she is now looking to downsize.

The O'Neill Building, #PHB (Serhant)

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


535 West End Avenue, #10 (Corcoran Group)

1165 Fifth Avenue, #PH (Brown Harris Stevens Residential Sales LLC)

The Plaza, #701 (Corcoran Group)

180 East 88th Street, #20B (Corcoran Group)
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The Four Seasons Private Residences, #69B (Brown Harris Stevens Residential Sales LLC)

10 Madison Square West, #6G (Corcoran Group)

137 East 66th Street, #4/5A (Corcoran Group)

290 West Street, #2B (Douglas Elliman Real Estate)

152 East 63rd Street, #2 (Christies International Real Estate Group LLC)

The Campanile, #2/3 (CORE Group Marketing LLC)

45 West 67th Street, #31A (Douglas Elliman Real Estate)

Vandewater, #PH31A (Compass)

Astor Court, #PH6/7 (Compass)

Sweeney Building, #10F (Compass)

87 Barrow Street, #2G (Serhant)

Harperley Hall, #1A (Douglas Elliman Real Estate)

429 Hancock Street, #TH (Douglas Elliman Real Estate)

52E4, #7 (Douglas Elliman Real Estate)

Thorndale, #PHA (Berkshire Hathaway HomeServices New York Properties)

57 West 130th Street, #GARDEN (Douglas Elliman Real Estate)

281 West 11th Street, #4/5D (Sothebys International Realty)

Prince Tower Building, #6W (Serhant)

The Rialto, #1I (Corcoran Group)

The Griffon, #2C (Corcoran Group)

City View Condominiums, #3C (Christies International Real Estate Group LLC)

Carriage House, #8C (The Agency Brokerage)

320 East 57th Street, #4A (Compass)

Turtle Bay Towers, #4E (Keller Williams NYC)

760 West End Avenue, #6B (Compass)

PS90, #4G (Compass)

The Mayfair, #1L (Compass)

Lincoln Spencer Arms, #76C (Brown Harris Stevens Residential Sales LLC)

Would you like to tour any of these properties?
Just complete the info below.
  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?