CityRealty Insider > New Developments in the News

New Developments in the News

FEBRUARY 2, 2009

The Upper East Side has some big rooms to fill

The Upper East Side is seeing some price cuts at the top but it's still no bargain basement. Choice properties like the former Henry T. Sloane mansion at 18 West 68th Street has been reduced from about $64 million to $54 million and the price for a 15-room duplex apartment at 740 Park Avenue has been cut from about $35 million to $26 million. The $35 million to $26 million "chop" was reported elsewhere in the neighborhood as well.

The Prudential Douglas Elliman team—headed by industry boldfacer Dolly Lenz—has handed over the marketing of the Manhattan House condominium project at 200 East 66th Street to the Corcoran Sunshine Marketing Group. Units at the residence have reportedly been priced well above market value, which may have contributed to the fact that only a small number of the converted building's 583 apartments have been sold. Built in1950, the original building symbolized the era's "white-brick monstrosities" to some and a bit of International Style modernity to others. Other concerns from potential buyers: the pace of construction at the building and tighter financial rules at commercial banks when new condo sales are involved.

Also: Rents are down throughout Manhattan. Highest rents: Still Tribeca. Lowest: Still Harlem.

ALSO IN NEW YORK CITY INSIDER

RLS IDX Data display by CityRealty.com, LLC. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.

All closed sales data has been provided by the New York City Department of Finance via the Automated City Register Information System (ACRIS). No warranty or representation is made as to the accuracy of any data provided by ACRIS or any other sources.

CityRealty is committed to ensuring digital accessibility for individuals with disabilities. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you wish to report an issue or seek an accommodation, please contact us at accessibility@cityrealty.com.

An equal housing opportunity

{"1":[40.775,-73.94,"East Side","_es"],"2":[40.79,-73.99,"West Side","_ws"],"11":[40.76,-73.98,"Midtown","_m"],"3":[40.736,-73.99,"Downtown","_d"],"13":[40.711309,-74.01,"Financial
District\/BPC","_fd"],"4":[40.682676,-73.973007,"Brooklyn","_b"],"12":[40.8444,-73.9376,"Upper Manhattan","_um"],"5":[40.7477089,-73.930411,"LIC \/ Queens","_qns"],"18":[40.8889782,-73.9025,"The Bronx","_bx"]}