Price Cuts: Sprawling Chelsea mansion reduced by $5M; Grand Beekman 2-bed shaves 18% off asking price

150 West 15th Street, #TH (Compass)

Thursday, Nov 14, 2024 By CityRealty Staff, CityRealty contributor

From November 5-11, 2024, over 250 condos, co-ops, condops, and townhouses in core areas of New York City experienced price reductions. These included the eighteenth-floor simplex at The Sherry Netherland, which attracted notoriety after a two-alarm fire in March 2023. The fire broke out hours after the apartment's owner, Chinese financier Guo Wengui, was arrested on charges of wire fraud, securities fraud, bank fraud, and money laundering; some speculated that it was started remotely (h/t New York Post).

Mr. Guo was convicted on nine of 12 counts in July 2024, and his sentencing is set for later this month. In the meantime, the apartment's listing notes that "an extensive amount of architectural planning as well as demolition has been done in recent months," presumably to repair damage from the fire. However, the well-proportioned rooms, three large terraces, and spectacular views of Central Park and the Manhattan skyline remain intact.

The fire is largely blamed for the apartment's drop in price. Mr. Guo initially sought to sell the apartment for $55 million in March 2020, five years after an LLC linked to him bought it for $67.5 million, and it has been on and off the market at gradually lower price points ever since. The most recent price reduction brings it down to $19,500,000.

Further downtown, prices were reduced on four listings at The Broad Exchange Building. After the Clinton & Russell-designed building was constructed in the early 20th century, 25 Broad Street was the city's highest-valued office building owing to its close proximity to the New York Stock Exchange. Over 100 years later, the Italian Renaissance Revival-style facade and double-height lobby were carefully preserved as the interiors were converted to one- and two-bedroom condos with open layouts, high-end appliances, and access to over 8,000 square feet of indoor and outdoor amenities. But the Financial District's evolution into a live-work-play neighborhood has made for an increasingly crowded residential market that includes other office conversions as well as new construction condos.

A selection of notable listings, as well as a full chart of last week's price cuts, may be found below. Please be advised that all quoted figures reflect cumulative price cuts as opposed to the most recent reductions.

-10% | -$3,995,000

18 Gramercy Park South, #PENTHOUSE
$36,000,000

Gramercy Park | Condominium | 5 Bedrooms, 5.5 Baths | 6,329 ft²

18 Gramercy Park South, #PENTHOUSE (Douglas Elliman Real Estate)

From the Listing: Experience the epitome of Manhattan living in this stunning Gramercy Park penthouse condominium. With over 6,300 square feet of interior space and an additional 1,900 square feet of private outdoor space, this trophy penthouse features five bedrooms, five full bathrooms, two half bathrooms, four outdoor terraces, a plunge pool and hot tub, multiple living and entertaining areas, and an exclusive key to Gramercy Park. Abundant natural light, grand proportions and breathtaking city views greet you upon entering from your own private keyed elevator. See floor plan and full details here.

-18.8% | -$4,500,000

The Sherry Netherland, #18thFloor
$19,500,000

Park/Fifth Ave. to 79th St. | Cooperative | 6+ Bedrooms, 6+ Baths

The Sherry Netherland, #18thFloor (Sothebys International Realty)

From the Listing: Perched high atop the prestigious Sherry Netherland Hotel, this exceptional and palatial full-floor residence boasts spectacular terraces, 100 linear feet overlooking Central Park, and mesmerizing 360-degree views of the Manhattan skyline and other celebrated landmarks such as Grand Army Plaza and the historic facade of the iconic Plaza Hotel. This high-floor simplex is bathed in sunlight throughout the day, as are its three large terraces, which enjoy delightfully open exposures to the west, south and north. See floor plan and full details here.

-25% | -$4,995,000

150 West 15th Street, #TH
$15,000,000

Chelsea | Townhouse | 6+ Bedrooms, 6+ Baths | 10,597 ft²

150 West 15th Street, # (Compass)

From the Listing: Mint-conditioned and modern single-family townhouse built to the highest caliber. 150 West 15th Street is a proper downtown mansion, sprawling over 10,000 square feet and with 6-7 oversized bedrooms, ten bathrooms, an eight-person commercial elevator, and ample outdoor space. It is the pinnacle of luxury living, with finishes, mechanicals, layout, and scale all peerless in the Manhattan market. See floor plan and full details here.

-16.2% | -$1,500,000

The Century, #7Q
$7,750,000

Central Park West | Condominium | 3 Bedrooms, 2 Baths | 2,221 ft²

The Century, #7Q (Corcoran Group)

From the Listing: Perfectly perched over Central Park West at the Century prewar condominium, this delightful and expansive corner "Q line" home is punctuated by a sweep of Central Park views to the north and east through walls of large new picture windows. This inviting and well-proportioned home includes a formal dining room, library/media room (which can double as a third bedroom), all new double-paned windows throughout, multi-zoned air-conditioning and one of the most enviably spacious corner primary bedroom suites floating on Central Park. See floor plan and full details here.

-10% | -$50,000

One Brooklyn Bridge Park, #202
$4,499,999

Brooklyn Heights | Condominium | 4 Bedrooms, 3 Baths | 2,456 ft²

One Brooklyn Bridge Park, #202 (Sothebys International Realty)

From the Listing: Situated on the south side of the building sits this sprawling duplex which has 4 bedrooms, 3 bathrooms, a private outdoor space, and has been masterfully renovated throughout with no expenses spared. On the main level, the stunning living and dining areas feature a built-in fireplace and direct access to the private balcony. On the mezzanine level, you will find three bedrooms that all share a spacious den/study area complete with a full bath and plenty of storage options. See floor plan and full details here.

-19.2% | -$950,000

The Cass Gilbert, #PHA
$4,000,000

Chelsea | Condominium | 3 Bedrooms, 3.5 Baths | 2,988 ft²

The Cass Gilbert, #PHA (Coldwell Banker Warburg)

From the Listing: Penthouse A at the landmarked Cass Gilbert condo is a stunning and loft-like 3-bedroom, 3.5-bath duplex with a private terrace. Perched on the 19th and 20th floors, this beautiful home is close to 3,000 square feet and boasts 11-foot beamed ceilings, north, south and east exposures, a corner primary bedroom, central air, state-of-the-art lighting system, washer/dryer, great closets and a lovely setback terrace facing north and overlooking the city. See floor plan and full details here.

-14.3% | -$600,000

24 Gramercy Park South, #1/2E
$3,600,000

Gramercy Park | Cooperative | 3 Bedrooms, 3 Baths

24 Gramercy Park South, #1/2E (Compass)

From the Listing: Located on Manhattan’s only private park, this pristine townhouse duplex is located in one of the most esteemed buildings in the exclusive and historic enclave of Gramercy Park. The main floor houses the public entertaining space with a grand living room with a wood-burning fireplace overlooking the Park opening to a generous dining room. The second floor offers three large bedrooms, all with ensuite baths and extremely generous storage space. Key to Gramercy Park included. See floor plan and full details here.

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-20.6% | -$905,000

240 Park Avenue South, #14B
$3,495,000

Flatiron/Union Square | Condominium | 3 Bedrooms, 3.5 Baths | 2,139 ft²

240 Park Avenue South, #14B (Douglas Elliman Real Estate)

From the Listing: Experience unparalleled elegance in this impeccably designed 2,139 square foot, 3-bedroom, 3.5-bath condominium located in the vibrant heart of Flatiron.Bathed in natural light from expansive East-facing windows, the luxurious living room offers stunning views of Gramercy Park and boasts impressive 10' ceilings. This loft-like space is perfect for relaxation, dining, and entertaining. The open floor plan seamlessly connects the living area to the chef's kitchen, enhancing the sense of spaciousness and flow. See floor plan and full details here.

-10.2% | -$306,990

130 William, #35E
$3,165,000

Financial District | Condominium | 3 Bedrooms, 3 Baths | 1,852 ft²

130 William, #35E (Corcoran Sunshine Marketing Group)

From the Listing: Residence 35E is a corner three-bedroom, three-bathroom home with approximately 10-foot ceilings and oversized arched windows with elegant bronze detailing framing expansive New York City skyline views. The residence boasts an open kitchen with custom Pedini Italian textured blackened oak cabinetry, Salvatori Pietra Cardosa marble countertops and backsplash hand-selected from the Apuan Alps in Tuscany with a Salvatori Nero Marquina cantilever providing additional seating, and state-of-the-art appliances by Gaggenau, Bosch, and Thermador, including wine storage. See floor plan and full details here.

-14.1% | -$450,000

The Cammeyer, #3H
$2,750,000

Chelsea | Condominium | 2 Bedrooms, 2 Baths | 1,717 ft²

The Cammeyer, #3H (Elegran LLC)

From the Listing: Beautiful, large Chelsea loft with all the character of cast iron buildings and the convenience of modern day space and amenities. A peaceful and bright oasis, with high ceilings, oversized windows and gorgeous treetop views of one of New York’s most well-known churches that is perfectly located between Chelsea and Flatiron. The enormous primary bedroom suite includes a fully outfitted dressing area with California Closets and a spacious WaterWorks bathroom. See floor plan and full details here.

-26.1% | -$1,060,000

77 Greenwich Street, #23A
$2,995,000

Financial District | Condominium | 3 Bedrooms, 2.5 Baths | 1,721 ft²

77 Greenwich Street, #23A (Christies International Real Estate Group LLC)

From the Listing: Every home in this luxury-defining condominium features a direct view of the NY Harbor. This brand new three-bedroom, two and half bath, 1721 SF home includes floor to ceiling crystalline glass windows allowing for an abundance of natural light, stunning water views and soaring ceilings of close to 11'. See floor plan and full details here.

-5.3% | -$110,000

The Broad Exchange Building, #20I
$1,975,000

Financial District | Condominium | 2 Bedrooms, 2 Baths | 1,532 ft²

The Broad Exchange Building, #20I (Christies International Real Estate Group LLC)

From the Listing: Discover urban elegance and contemporary luxury at its finest in Residence #20I of the prestigious Broad Exchange Building. This meticulously designed two-bedroom, two-bathroom home offers an exceptional blend of spaciousness, modern comfort, and timeless sophistication. The open kitchen, adorned with paneled Poliform cabinetry, boasts premium appliances from Bosch, Miele, and Liebherr, complemented by Caesarstone countertops and a Lazza crystalized breakfast bar. See floor plan and full details here.

-6.8% | -$1,985,000

The Butler Collection, #9A
$1,850,000

Park Slope | Condominium | 2 Bedrooms, 2 Baths | 1,201 ft²

The Butler Collection, #9A (Douglas Elliman Real Estate)

From the Listing: Enjoy contemporary Park Slope living at its finest in this expansive two-bedroom, two-bathroom home with private outdoor space at The Butler Collection's 350 Butler Street. Generous open-plan living space welcomes comfortable daily life and entertaining, or step out to your 338-square-foot terrace for wonderful al fresco gatherings. Elevate your culinary experience in the gourmet kitchen featuring Shaker cabinetry topped by honed quartzite countertops and a Fireclay sink with a Waterworks faucet and garbage disposal. Parking option available. See floor plan and full details here.

-17.8% | -$400,000

The Grand Beekman, #15C
$1,850,000

Beekman/Sutton Place | Condominium | 2 Bedrooms, 2 Baths | 1,300 ft²

The Grand Beekman, #15C (Corcoran Group)

From the Listing: Completely reimagined and artfully designed, this beautiful 2BD/ 2BA in the Grand Beekman Condo, is in sparkling condition. The apartment has been fully renovated with high quality finishes throughout. Encompassing 1300 SF+/- this coveted C-line unit faces east and south and offers wonderful views of the Manhattan skyline, including some of its most iconic buildings. The layout provides for a gracious entrance flowing seamlessly into an open living room and dining area. The spacious living room has expansive wall space to feature all your artworks and French doors opening onto a Juliet balcony. See floor plan and full details here.

-29.4% | -$705,000

The Boulevard, #706
$1,695,000

Riverside Dr./West End Ave. | Condop | 2 Bedrooms, 2 Baths

The Boulevard, #706 (Corcoran Group)

From the Listing: Step into luxury with panoramic views from your spacious living room. A pass through kitchen connects the entry foyer to the dining alcove. Both bedrooms fit up to a king-size bed, and the primary bedroom has walk-in closets and an en-suite bath with whirlpool tub. See floor plan and full details here.

-9.4% | -$155,000

4 West 16th Street, #4A
$1,495,000

Flatiron/Union Square | Cooperative | 1 Bedroom, 2 Baths | 1,240 ft²

4 West 16th Street, #4A (Douglas Elliman Real Estate)

From the Listing: Welcome home to your stylish loft in the heart of the city, where architectural elegance meets comfort and convenience. Residence #4A features stunning 11-foot barrel-vaulted ceilings, architectural columns, hardwood floors, and oversized windows that let in abundant natural light, creating a bright and airy ambiance. The kitchen has been meticulously renovated to include ample, thoughtful storage and top-of-the-line stainless-steel appliances, including a 6-burner gas oven and dishwasher. Private storage unit included with the sale. See floor plan and full details here.

-12.3% | -$196,000

80 Central Park West, #12C
$1,399,000

Central Park West | Cooperative | 1 Bedroom, 1.5 Baths

80 Central Park West, #12C (Compass)

From the Listing: Once-in-a-lifetime opportunity to own a home with unparalleled Central Park and city views on the twelfth floor. This oversized one-bedroom, one and a half-bath apartment has a gracious foyer leading up to a large scale living and dining room with private balcony which is big enough for a bistro table. The primary suite has an en suite bathroom and enables you to wake up to the most inspiring Central Park view every day. This is truly one of a kind and has not been on the market over 40 years, and when you see it you won't want to sell it either! See floor plan and full details here.

-24.3% | -$425,000

1st & First, #2S
$1,325,000

East Village | Condominium | 2 Bedrooms, 1 Bath | 1,027 ft²

1st & First, #2S (Sothebys International Realty)

From the Listing: Situated at the intersection of the East Village, Noho, and the Lower East Side, this home offers an unparalleled indoor-outdoor living experience, combined with the energy of some of New York’s most sought-after neighborhoods. The expansive open-concept living and dining area features oak floors, soaring ceilings, and floor-to-ceiling windows that flood the space with natural light. The large private terrace is perfect for al fresco dining or enjoying the city views with your morning coffee. See floor plan and full details here.

-7.1% | -$76,000

Rockefeller Apartments, #10A
$999,000

Midtown West | Cooperative | 1 Bedroom, 1 Bath | 980 ft²

Rockefeller Apartments, #10A (Compass)

From the Listing: This oversized one-bedroom home has been thoughtfully renovated, harmoniously blending contemporary design with the authentic details of its Bauhaus past. As you enter through the artfully finished original metal front door, you are greeted by a spacious foyer illuminated by elegant Italian recessed lighting. The generous living room boasts abundant natural light, courtesy of one of the apartment's nine brand-new windows. An antique polished iron fireplace mantel, complemented by beautiful artistic tiles surrounding a ventless hearth cabinet fireplace, adds character to the space. Spectrum offers the building bulk rate internet and cable for just $40/month. See floor plan and full details here.

-14.8% | -$155,000

The Peter Warren Cooperative, #LH
$895,000

Greenwich Village | Cooperative | 1 Bedroom, 1 Bath

The Peter Warren Cooperative, #LH (The Agency Brokerage)

From the Listing: Indulge in your own secluded haven with this charming one-bedroom co-op, nestled on a highly coveted street in Greenwich Village. Original parquet floors, 9-foot ceilings and generously sized rooms await your transformation. Here, you have the unique opportunity to fashion a meticulously landscaped private oasis, evoking the enchantment of a serene backyard retreat. See floor plan and full details here.

-6% | -$51,000

The Osborne, #6DE
$799,000

Midtown West | Cooperative | 2 Bedrooms, 1 Bath

The Osborne, #6DE (Sothebys International Realty)

From the Listing: Located in the prestigious prewar building, The Osborne, this residence boasts high ceilings, abundant closet space, beautifully preserved hardwood floors, adding a touch of timeless charm. The recently renovated bathroom combines luxury and functionality, creating a serene retreat within the bustling city. See floor plan and full details here.

-11.3% | -$76,000

The Parkville Avenue Condominiums, #6B
$599,000

Flatbush | Condominium | 2 Bedrooms, 2 Baths | 850 ft²

The Parkville Avenue Condominiums, #6B (Serhant)

From the Listing: Located on the penthouse floor of an elevator building, this two-bedroom unit boasts French doors that open to a private balcony, allowing an abundance of natural light to fill the space. The kitchen is equipped with GE Profile stainless steel appliances, granite countertops, a double sink, and ample cabinet space. The primary bedroom can easily fit a king-sized bed and more, with an en-suite bathroom and a reach-in closet. Residence #6B owns a quarter of the semi-private roof terrace, making it the perfect place to relax and unwind after a long day. See floor plan and full details here.

-10.5% | -$50,000

56 West 82nd Street, #13
$425,000

Central Park West | Cooperative | Studio, 1 Bath

56 West 82nd Street, #13 (Compass)

From the Listing: This gorgeous south-facing studio, just steps from Central Park, is priced to sell. Offering 10-foot ceilings with spotlights, through-wall AC, original exposed brick, Brazilian teak hardwood floors, abundant natural light and large windows overlooking peaceful gardens. A quiet sanctuary from the city, this well laid out apartment features a renovated separate kitchen with stainless steel appliances and granite countertops, multiple large closets and storage space, and a fully renovated spa-like bathroom with stunning floor-to-ceiling tiles. See floor plan and full details here.

Would you like to tour any of these properties?

In this article:

-10% | -$3,995,000

18 Gramercy Park South, #PENTHOUSE
$36,000,000

-18.8% | -$4,500,000

The Sherry Netherland, #18thFloor
$19,500,000

-25% | -$4,995,000

150 West 15th Street, #TH
$15,000,000

-16.2% | -$1,500,000

The Century, #7Q
$7,750,000

-10% | -$50,000

One Brooklyn Bridge Park, #202
$4,499,999

-19.2% | -$950,000

The Cass Gilbert, #PHA
$4,000,000

-14.3% | -$600,000

24 Gramercy Park South, #1/2E
$3,600,000

Select which properties are of interest to you:

-20.6% | -$905,000

240 Park Avenue South, #14B
$3,495,000

-10.2% | -$306,990

130 William, #35E
$3,165,000

-14.1% | -$450,000

The Cammeyer, #3H
$2,750,000

-26.1% | -$1,060,000

77 Greenwich Street, #23A
$2,995,000

-5.3% | -$110,000

The Broad Exchange Building, #20I
$1,975,000

-6.8% | -$1,985,000

The Butler Collection, #9A
$1,850,000

-17.8% | -$400,000

The Grand Beekman, #15C
$1,850,000

-29.4% | -$705,000

The Boulevard, #706
$1,695,000

-9.4% | -$155,000

4 West 16th Street, #4A
$1,495,000

-12.3% | -$196,000

80 Central Park West, #12C
$1,399,000

-24.3% | -$425,000

1st & First, #2S
$1,325,000

-7.1% | -$76,000

Rockefeller Apartments, #10A
$999,000

-14.8% | -$155,000

The Peter Warren Cooperative, #LH
$895,000

-6% | -$51,000

The Osborne, #6DE
$799,000

-11.3% | -$76,000

The Parkville Avenue Condominiums, #6B
$599,000

-10.5% | -$50,000

56 West 82nd Street, #13
$425,000

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In this article:

-10% | -$3,995,000 18 Gramercy Park South, #PENTHOUSE$36,000,000

-18.8% | -$4,500,000 The Sherry Netherland, #18thFloor$19,500,000

-25% | -$4,995,000 150 West 15th Street, #TH$15,000,000

-16.2% | -$1,500,000 The Century, #7Q$7,750,000

-10% | -$50,000 One Brooklyn Bridge Park, #202$4,499,999

-19.2% | -$950,000 The Cass Gilbert, #PHA$4,000,000

-14.3% | -$600,000 24 Gramercy Park South, #1/2E$3,600,000

Select which properties are of interest to you:

-20.6% | -$905,000 240 Park Avenue South, #14B$3,495,000

-10.2% | -$306,990 130 William, #35E$3,165,000

-14.1% | -$450,000 The Cammeyer, #3H$2,750,000

-26.1% | -$1,060,000 77 Greenwich Street, #23A$2,995,000

-5.3% | -$110,000 The Broad Exchange Building, #20I$1,975,000

-6.8% | -$1,985,000 The Butler Collection, #9A$1,850,000

-17.8% | -$400,000 The Grand Beekman, #15C$1,850,000

-29.4% | -$705,000 The Boulevard, #706$1,695,000

-9.4% | -$155,000 4 West 16th Street, #4A$1,495,000

-12.3% | -$196,000 80 Central Park West, #12C$1,399,000

-24.3% | -$425,000 1st & First, #2S$1,325,000

-7.1% | -$76,000 Rockefeller Apartments, #10A$999,000

-14.8% | -$155,000 The Peter Warren Cooperative, #LH$895,000

-6% | -$51,000 The Osborne, #6DE$799,000

-11.3% | -$76,000 The Parkville Avenue Condominiums, #6B$599,000

-10.5% | -$50,000 56 West 82nd Street, #13$425,000

Select which properties are of interest to you:

Listings in this article

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-10% | -$3,995,000

18 Gramercy Park South, #PENTHOUSE
$36,000,000

-18.8% | -$4,500,000

The Sherry Netherland, #18thFloor
$19,500,000

-25% | -$4,995,000

150 West 15th Street, #TH
$15,000,000

-16.2% | -$1,500,000

The Century, #7Q
$7,750,000

-10% | -$50,000

One Brooklyn Bridge Park, #202
$4,499,999

-19.2% | -$950,000

The Cass Gilbert, #PHA
$4,000,000

-14.3% | -$600,000

24 Gramercy Park South, #1/2E
$3,600,000

-20.6% | -$905,000

240 Park Avenue South, #14B
$3,495,000

-10.2% | -$306,990

130 William, #35E
$3,165,000

-14.1% | -$450,000

The Cammeyer, #3H
$2,750,000

-26.1% | -$1,060,000

77 Greenwich Street, #23A
$2,995,000

-5.3% | -$110,000

The Broad Exchange Building, #20I
$1,975,000

-6.8% | -$1,985,000

The Butler Collection, #9A
$1,850,000

-17.8% | -$400,000

The Grand Beekman, #15C
$1,850,000

-29.4% | -$705,000

The Boulevard, #706
$1,695,000

-9.4% | -$155,000

4 West 16th Street, #4A
$1,495,000

-12.3% | -$196,000

80 Central Park West, #12C
$1,399,000

-24.3% | -$425,000

1st & First, #2S
$1,325,000

-7.1% | -$76,000

Rockefeller Apartments, #10A
$999,000

-14.8% | -$155,000

The Peter Warren Cooperative, #LH
$895,000

-6% | -$51,000

The Osborne, #6DE
$799,000

-11.3% | -$76,000

The Parkville Avenue Condominiums, #6B
$599,000

-10.5% | -$50,000

56 West 82nd Street, #13
$425,000

NYC contracts led by $18.5M Upper East Side mansion and a bespoke Billionaires' Row condo

Price Cuts: Former Kips Bay Decorator Showhouse down by $9.5M; Karim Rashid to take loss on Hell's Kitchen condo

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