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New York City's sellers kept up a trend of slashing prices in February. Manhattan neighborhoods saw most price cuts, similar to January.
A new report by RealtyHop found the neighborhood with the highest number of price cuts last month was Upper East Side-Carnegie Hill, with 155 cuts. The neighborhood also topped the list in January with 159 price drops.
In its monthly price drop report, RealtyHop identifies neighborhoods with the highest total number of price cuts. It also highlights areas with the biggest percentage drop in median price, and the biggest median dollar price drop.
The top five addresses with the biggest dollar price drops are all in Manhattan. A penthouse condo in Murray Hill, 172 Madison Ave., led the pack with a price drop of $22,000,000 or 22.4 percent off. That condo also made the list for addresses with the highest percentage price drops.
On the list of biggest price drops in terms of percentage, four of the five top addresses are in Manhattan while one is in the Bronx. A Chelsea condo, 503 West 24th St., topped the list with a 23.7 percent price chop, representing a $4,624,900 reduction.
Below is a look at the listings with deepest price chops identified in RealtyHop's report.
Top 5 NYC addresses with the biggest dollar price drop in February
172 Madison Ave., #LE-penthouse, Murray Hill
This 11-bedroom,14-bath, condo saw a price drop of $22,000,000 to $76,000,000. The penthouse has five floors and each floor has over than 3,500 square feet—plus multiple terraces and a private roof deck with a pool and Jacuzzi. Amenities include a full-time doorman, live-in super, pet spa, gym, and a 67-foot salt-water pool.
503 West 24th St., #5, Chelsea
This four-bedroom, four-and-a-half-bath condo saw a price drop of $4,624,900 to $14,875,100. The full-floor apartment has 3,857 square feet of living space and a 159-square-foot terrace that overlooks the High Line and Hudson River. The kitchen was designed by Daniel Boulud and features Kinon cabinetry, Italian Lasa Vena Verde marble countertops, and stainless steel Gaggenau appliances.
80 Columbus Circle, #74AB, Hell's Kitchen
This six-bedroom, seven-bath condo saw a price drop of $4,000,000 to $25,000,000. The apartment has a long gallery, which leads to the open great room, dining area, and a large formal living room that features a wall of windows with views of Central Park. The kitchen has two Wolf ovens, a vented range, double Sub-Zero fridge with four freezers, a garbage disposal, and a lot of pantry space.
25 Columbus Circle, #7475B, Hell's Kitchen
This four-bedroom, four-and-a-half-bath condo saw a price drop of $3,000,000 to $26,995,000. Located in the Time Warner Center, the custom-built duplex has views of Central Park to the Hudson River and the George Washington Bridge. The top floor features the kitchen and an open living and dining space with custom lighting designed by Marzorati Ronchetti—plus one of the bedrooms, while the lower floor has two master suites, and the fourth bedroom.
145 Central Park West, #15EF, Upper West Side
This four-bedroom, five-and-a-half-bath co-op saw a price drop of $2,250,000 to $22,750,000. The apartment is available for the first time since the two units were combined. The corner apartment is over 5,500 square feet. The living room has a gas fireplace and five setback casement windows with built-in mirroring. Located in the San Remo building, amenities include a doorman, fitness center, private garden, laundry facilities, and a bike room.
Top 5 NYC addresses with the highest percentage price drop in February
503 West 24th St., #5, Chelsea
This four-bedroom, four-and-a-half-bath condo saw a price drop of 23.7 percent to $14,875,100. The living room features double-height living room, the only in the building, and a 16-foot high gas fireplace with Italian Navona Travertine. There's a multi-zone climate-control system, radiant heated floors, and adjustable lighting controlled with a Lutron system. An extra storage room in the building is included.
425 East 58th St., #11B, Midtown East
This two-bedroom, two-bath co-op saw a price drop of 23.3 percent to $1,300,000. The corner apartment has an in-unit washer/dryer, thermostat-controlled air conditioning and nine-foot ceilings. Both bedrooms have en suite baths and large closets, with three additional closets in the apartment. Amenities include a doorman, concierge, on-site management, valet parking in the 24-hour garage equipped with Tesla chargers, a gym, and gardens.
172 Madison Ave, #LE-penthouse, Murray Hill
This 11-bedroom, 14-bath condo saw a price drop of 22.4 percent to $76,000,000. The penthouse has high ceilings that range from 18- to 23-feet, multiple fireplaces, central air conditioning, and an in-unit washer/dryer. The building was built in 2016 and has a steam room, salt-water pool, a pet spa, entertainment lounge, and a yoga room with complimentary classes.
838 Greenwich St., #1F, West Village
This studio saw a price drop of 21.1 percent to $450,000. Apartment #1F is renovated and has high ceilings, exposed brick, a wood-burning fireplace, and hardwood floors. The kitchen has marble countertops, a gas oven, and stainless steel fridge. Located in a 29-unit co-op with a renovated lobby, amenities include laundry facilities, storage, and an elevator. Per the listing, the apartment is a cash-only deal and there's an assessment in place.
3614 Johnson Ave., #2C, Riverdale
This two-bedroom, two-bath condo saw a price drop of 20.8 percent to $475,000. The condo has a balcony, an in-unit washer with a hook-up for a dryer, hardwood floors, two through-wall AC units, and several closets. The pet-friendly building has a garage and elevator with only three apartments per floor.
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