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Extell Lowers Prices on Slow-to-Sell Condos at One Riverside Park

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The luxury developer isn't stubborn when it comes to pricing for the market

Will Femia

Extell is rolling back the prices on the remaining condos at One Riverside Park, the development company's 219-apartment luxury tower on the Far West Side. The Real Deal caught new filings with the Attorney General's office that seek to decrease the prices of the building's unsold apartments, which number around 20.

A 5,700-square-foot condo once asking $25.75 million is now asking $21 million, a 6,200-square-foot condo once asking $23.1 million is now asking $19.95 million, and a similarly-sized apartment once asking $19.98 million is now asking $18.85 million, TRD says.

The building at 50 Riverside Boulevard on West 62nd Street hit the market in 2013. Shortly after, Extell and co-developer Carlyle Group pulled the building off the market to raise prices. It returned again in 2014 with higher pricing, but people still gobbled the apartments up. In its first 10 days of official sales, 70 of the 219 apartments entered contract.

StreetEasy currently shows ten apartments on the market in the building with asks ranging from $3.375 million for a 1,500-square-foot 2BR/2.5BA to $20.66 million for a 6,168-square-foot 6BR/8.5BA, now in contract.

One Riverside Park

50 Riverside Blvd., New York, NY 10069 (212) 663-7873 Visit Website