It might be a seller's market right now for the owners of luxury condos and fancy townhouses in Manhattan, but that doesn't mean that sellers can't still wildly overestimate the values of their homes. Here are the eight New York City residences that have seen the biggest price cuts so far in 2015, ranging from the Upper East Side to the Upper West Side all the way to the Village. (Surprise—they're all in Manhattan.)
8) 66 East 11th Street
The price of one of the penthouse in Delos Living's health-centric development at 66 East 11th Street, where Leonardo DiCaprio and Deepak Chopra also own units, fell from $39.8 million to $30.5 million back in May. So, technically it was a $9.3 million pricechop, but we can round up. The triplex apartment started at $50 million, however, when it was first listed in 2013.
7) 165 Perry Street
Having been once occupied by Robert De Niro hasn't helped this "mansion in the sky" in the West Village sell. Having been listed in April for $39.8 million after several forays into the rental market, it waited only three months before cutting the price down to $29.8 million, for an even $10 million pricechop.
6) 15 Central Park West
Yet another apartment that Robert De Niro has lived in (Alex Rodriguez, also) fell by $10 million this year. This 6,000-square-foot unit in the Limestone Jesus was listed for $55 million last month after asking $65 million last year. It was asking $85 million when it hit the market in 2013, and was also asking $95 million as part of a combo with another unit at one point.
5) 29 Beekman Place
The seven-story mansion at 29 Beekman Place hit the market for $49.9 million in February 2014, raising some skepticism that it could get that price. That skepticism, as it turns out, was correct, and the house's ask was reduced to $37.5 million, for a $12.4 million pricechop, when it switched brokerages in May.
4) 24 East 69th Street
Interior designer Juan Pablo Molyneux put his lavish Upper East Side townhouse on the market for $48 million in 2012 and waited three years before cutting the price to $34 million this January. Molyneux's "maximalist" style may be scaring off some potential buyers, and so far the $14 million price reduction has not done the trick.
3) Unfortunately, we still can't see inside Gloria Vanderbilt's former mansion on the Upper East Side, but the house hunters who have been inside apparently haven't liked what they've seen enough to drop $59 million it. After being listing for that price in April, the ask fell $17 million to $42 million last month.
2) The Heritage at Trump Place
Looking at the pictures, it doesn't take a ton of imagination to figure out why this 10,500-square-foot triplex, owned by Saudi Prince Nawaf bin Sultan bin Abdulaziz Al-Saud, isn't selling. The Prince put the pad on the market for $75 million in 2012, and then tried again this February at $48.5 million. Even with the $26.5 million chop, the price still seems to be too steep. But eventually it's going to find the perfect buyer who wants an apartment with a six-person indoor hot tub, a hair salon, and three panic rooms. Actually, it sounds kind of perfect for Trump himself.
1) The Pierre
And finally, no one is topping the palatial penthouse of deceased financier Martin Zweig, which cut its price by a staggering $32 million in January when it fell from $95 million to $63 million. The sprawling triplex was originally asking $125 million when it hit the market in 2013, making it one of the most pricechopped (if not the most pricechopped) private homes in the history of the city.
· Pricechopper archives [Curbed]