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Extell’s Upper East Side townhouse now seeks nearly half of its initial ask

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The townhouse of Extell’s Carlton House development just underwent another hefty price chop

A little more proof that the luxury market is slowing down: Extell has slashed the price tag of Carlton House’s new construction mansion again. The 9,700-square-foot townhouse first hit the market in 2014 asking $65 million, or $6,672 per square foot, before the development company paired its ask down to $49.5 million. Now, the property has gotten another price chop, bringing the cost down to $37.5 million, or nearly $30 million off of its original asking price. Sorry, townhouse mansion: you no longer qualify as one of the city’s 30 most expensive homes for sale.

The 35-foot-wide townhouse at 19 East 61st Street is being sold as a totally customizable core and shell, meaning whoever dishes up for the property will also have to spend many millions more outfitting and furnishing the palatial home. (At least the buyers have access to the neighboring Carlton House condos’ amenities.) By comparison, the slightly smaller 9,000-square-foot penthouse of Carlton House sold for $52 million in January 2015.

The Real Deal chalks the price chop up to Extell’s final push to sell out the development that’s been on the market since 2013.

The Carlton House

680 Madison Avenue, New York, NY 10065